Charles Hoskinson: The promotion for Cardano in China is a multi-level marketing campaign, unrelated to the ADA’s 460% surge

IOHK CEO Charles Hoskinson said that the events promoting Cardano in China were illegal.

Cardano

Hoskinson informed the community on Twitter that the marketing campaign promoting Cardano in China was a multi-level model (MLM). Please stay away from this scheme.

According to Mo Li, Hashkey Hub’s head of marketing, his photo was used to promote ADA to the elderly.

Chinese farmers are not behind Cardano price rally

Hoskinson claimed that the event was a fraud to try to attract wealthy farmers in China.

These organizers are not related to IOHK and they have not been allowed to use Cardano images and logos.

Moreover, he criticized Li for implying that the MLM scheme was related to Cardano’s recent price increase.

Earlier, Li had insisted that Cardano could climb to sixth place on CoinGecko due to the PR campaign in China.

ADA is currently up a whopping 460% from 0.01768 recorded on March 13.

Source: TradingView

You can see the ADA price here.

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