Wednesday, March 29, 2023
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Cardano IOG Warns About Fake Daedalus Wallet

In a tweet on Tuesday, Input Output Global (IOG), the development team behind the Cardano network, warned users about the Daedalus wallet scam. Tim HARRISON, VP of Community and Ecosystems, reiterated the warning, emphasizing that the team is working to take down the fraudulent website. IOG has warned users to download only from the prompt in the Daedalus news feed, and warned new users to download only through the official website

Daedalus is a full node desktop wallet. Thus, mobile wallets posing as Daedalus wallets are most likely fraudulent. Daedalus was updated to version 5.1.0 less than two weeks ago. The update brings improvements to hardware wallet integration, among other fixes, with optional collection of anonymous data to inform IOG decisions about new features and bug fixes.

IOG head Charles HOSKINSON hopes the network can create future wallet standards to guide wallet creators in the community and create a wallet certification system. Security continues to be critical to the sustainability of the emerging crypto market as it continues to be plagued by scams and hacks. DeFi hacks are hitting new highs in 2022 as hackers have already stolen at least $3 bln, according to Chainalysis. There is no data yet on whether users have lost their ADA as a result of using the Daedalus fraudulent wallet.

Image: Crypto Economy



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