The Cardano Foundation, an independent entity dedicated to promoting the Cardano project, warned the community about a copycat that was infringing on the company’s trademark. The copycat cryptocurrency is called Cardano Gold and is currently in the midst of a crowd sale.
The foundation, whose aim is to promote the Cardano blockchain, tweeted about a copycat that has emerged on the market, warning its users to beware of the potential scam.
The scam project currently conducting a crowd sale of the Cardano Gold Coin. According to its official website, the price of the coin was just over $25 and is available for purchase with BTC, ETH, LTC, and XRP.
The copycat project, called Cardano Gold, has reportedly been infringing and violating on Cardano’s registered trademark but so far, the Cardano community is not bothered about it. Cardano Gold claimed that it facilitates swift crypto conversions to USD and “thereby” to other fiat currencies. Its native wallet allegedly supports Bitcoin, Ethereum, Litecoin, Ripple, and Dogecoin and plans on introducing more cryptocurrencies in the future.
Earlier this week, the CEO of IOHK, the company behind the Cardano blockchain Charles Hoskinson, on a lighter note, said that “copycats are what determines the value of a project and that he wasn’t worried about other projects mimicking Cardano,” bringing his thought to life, Cardano Gold was formed.