Hacks in the crypto money world have always been a topic of agenda. Now hacking for an altcoin is on the agenda. The Twitter account of XRP advocate attorney John Deaton was hacked on June 4. It was also used to promote a malicious LAW token. Let’s have a look at the details.
Fake altcoin promotion
Deaton shared a tweet from Crypto Law’s twitter account. He tweeted that his account was under “a brutal cyberattack for several days”. Prominent altcoin XRP lawyer warned his followers of the attack through his daughter’s account. He also called to report the incident.
“John Deaton’s phone was hacked today after several days of relentless cyberattack. This is NOT a legit tweet. His account has been hacked. He has taken immediate steps to rectify the situation.”
Some members of the altcoin XRP community responded positively to Deaton’s call. On the other hand, he tweeted to warn more users about the situation. Twitter user Osakar Arnarson tweeted a step-by-step procedure that trains other users on how to report the hacked account. Many other users also responded, stating that they had successfully reported the attack.
https://twitter.com/CryptoLawUS/status/1665139568159383553
The timing of the attack is interesting as it coincided with his birthday. Since they are offering a fake giveaway of the altcoin LAW token, this is likely a calculated move by hackers to add legitimacy to their tweets. According to the scammers, the token “takes an innovative approach to tokenization and DeFi centered around crypto regulation and jurisdiction.”
Different warnings
Meanwhile, several prominent altcoin XRP community members immediately warned others to beware of scams. In addition, Ripple’s CTO David Schwartz echoed these warnings, adding:
“This site is a copy of https://fuse.io and is broken in many ways. The registration is anonymous. The only evidence that this is anything is John’s Twitter.”
Deaton is a popular figure on Crypto Twitter, particularly within the altcoin XRP community. He has more than 200,000 followers. It also has a solid reputation for following the ongoing litigation between Ripple and the SEC. The lawyer claimed that the institution’s sanctions against Ripple hurt altcoin XRP investors. He also filed a class action lawsuit against the SEC. The spread of misinformation and deceptive financial data in the crypto market poses a significant risk given that investors often rely on the guidance of influential people in the industry. Such actions jeopardize the stability of the market and give regulators additional reasons to approach the industry with caution and caution.
Phishing scams are getting bolder. Meanwhile, the incident highlights the audacious nature of most Bitcoin and altcoin scammers. Phishing scams are gaining momentum, while other types of crypto theft are on the decline. As we stated as Kriptokoin.com, fraudsters hack the Twitter accounts of famous people. It also hacks Discord servers of projects. On the other hand, it uses many methods such as spam posts with phishing links. In most cases, phishing links offer airdrops for an existing project. On the other hand, it introduces a new project. Users are often asked to link their wallets. As a result, it causes investors to lose their funds. The Altcoin LAW token website has a similar interface to most phishing sites. It therefore requires users to link their wallets. At the time of this writing, there are no reports of anyone linking their wallet to the scam site or losing money.
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