Cardano (ADA) had its name used by a scam ICO called “Cardano Gold Coin” and so the official team of Cardano promptly informed users.
#Cardano Gold is not associated with us in any way. It is infringing on our trademark and violating our registered TM. Cardano Gold’s use of our trademark is illegal and we urge you to beware of this #scam.
— Cardano Foundation (@CardanoStiftung) November 6, 2019
Unfortunately, in the blockchain sector, it’s easy to run into miraculous projects that promise great profits, but which in the end turn out to be a complete scam aimed at having victims give up their cryptocurrencies in exchange for fake tokens.
Another way to attract victims is to use and/or copy famous projects and then fraud and mislead users, and that’s what happened to the detriment of Cardano.
In fact, as can be seen from the dedicated website, cardanogold.org, which was promptly taken offline, it allowed buying this shitcoin and even claimed to have important members in its team.
Moreover, it is enough to check the official profiles of the team members to find out that they have dissociated themselves from the project and warned that it is a scam, such as in the case of Arnab Naskar.
This is a clear demonstration of how criminals use all the means at their disposal to deceive the victims, since if nobody brings to light all the details or does not interact with some of the team or even with official sources, in this case, Cardano, it is difficult to find out whether it is a scam.
Unfortunately, it is hard to quantify how many have fallen into the trap, also because, as mentioned, the website is offline, and also the GitHub repository is empty, which shows how, with a simple check, it was easily possible to detect the scam.