Attorney John Deaton’s Twitter Account Hacked to Promote Crypto Scam
In the ongoing case between Ripple and the U.S. Securities and Exchange Commission (SEC), John Deaton, who represents over 76,000 XRP token holders, received a belated birthday surprise on Saturday.
Deaton’s Twitter account was compromised by hackers who promoted the use of a cryptocurrency with a negligible market cap called $LAW token. The attorney has a solid reputation in the cryptocurrency business for facing up against regulatory enforcement from U.S. authorities.
The whole crypto industry got together on Saturday to celebrate Deaton’s birthday. According to the lawyer’s official Twitter account (called CryptoLaw), the tweets were not authored by Deaton but rather by hackers. It highlighted the urgency of doing something about the issue right now.
Highlighting the Vulnerability of Crypto Industry
Cryptocurrency markets are susceptible to the transmission of incorrect and misleading financial information since investors generally take cues from well-known figures in the sector. However, such behavior may encourage authorities to look the industry with even more mistrust.
After having his Twitter account compromised via his daughter Jordan’s account, Deaton recently informed his followers of the situation. He asked the public to report that his Twitter account had been hacked.
Furthermore, Peter Schiff’s account, a vocal critic of cryptocurrencies and supporter of gold, was recently hacked and used to promote a fraudulent gold coin hoax.
Spencer Schiff, the son of Peter Schiff, tweeted a warning to his father’s followers, indicating that the URL in the article had “most certainly” been hijacked. When comparing Spencer with Peter, the latter is more optimistic about the future of cryptocurrencies.
To strengthen the Web3 community and unite the real and virtual money markets, the hacker acting as Peter Schiff on Twitter announced the formal launch of Gold, a cryptocurrency token.