Charles Hoskinson stirred controversy with a picture of his dog.

The Cardano founder accidentally endorsed a dog-themed memecoin by tagging an account with his dog’s name. 

The memecoin experienced a whopping 800% surge before retracing it all back. Cardano Founder Charles Hoskinson often finds himself amidst drama for his controversial opinions. However, this time, despite his reputation for meticulousness, the crypto pundit erred after he accidentally tagged a dog-themed memecoin, triggering a frenzy of hype-induced buyers investing in the token, resulting in significant losses.Hoskinson’s Furry FiascoOn Sunday, December 10, Charles Hoskinson shared an adorable update on his canine companion, Freya, over 𝕏. What started as a heartwarming post took an unexpected twist when the founder casually tagged an account as ‘@Freyahoskinson,’ along with an endearing snapshot of his furry friend. Little did he know that this innocent move would trigger a race among opportunistic scammers and shillers, swiftly snagging the tag to promote their own coin.Seconds after Hoskinson’s post, a relatively obscure Cardano-native memecoin, Freya, slyly changed its handle from @FreyaHosk to @FreyaHoskinson. The subtle alteration created an illusion, making it appear that Hoskinson endorsed the project to his over one million followers. 

What unfolded next was a frenzied influx of eager buyers, optimistic about scoring quick profits. According to dexscreener, Freya experienced a jaw-dropping 800% surge in price following the Cardano Founder’s post, only to crash 15 minutes later, erasing all gains.What seemed like a routine lifestyle update turned into a financial rollercoaster for many. Post-incident, the community didn’t hold back, offering a barrage of criticism directed at the founder. The consensus? A call for more meticulous research and caution when tagging accounts.Hoskinson RespondsAs criticism against the founder mounted, Charles Hoskinson deleted the contentious post and hopped on 𝕏 to address the brewing storm. 

Hoskinson set the record straight, distancing himself from the project in question—Freya—and other NFT plays, emphasizing that he had nothing to do with fan projects.In an effort to clarify his stance, Hoskinson expressed his appreciation for the artwork inspired by his dog and life. However, he unequivocally declared that he wasn’t affiliated with any project and didn’t endorse them.On the Flipside This isn’t the first time Charles Hoskinson has unintentionally endorsed a token. Earlier, the founder tagged the Cardano memecoin SNEK, inquiring about its nature, resulting in a substantial surge in the token’s price.

Freya had a total of 400 holders at the time of writing, 350 on Ethereum and 50 on Cardano.  Why This MattersCharles Hoskinson’s oversight triggered a frenzy of shillers exploiting his innocent post to promote their token. This underscores the importance for influencers and influential figures to double-check their posts and tags, preventing the creation of rug pull memecoins that could lead many to their demise.Here’s what you need to know about Tether’s new policy: Tether’s New Wallet-Freezing Policy: What Holders Need to KnowRead more about how East Asian countries are putting up a united front against North Korea:US, South Korea, Japan to Combat North Korea’s Cyber Crimes