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- Hackers promoted a cryptocurrency known as $LAW token, which has an almost negligible market cap.
- On Saturday, the crypto community united to celebrate Deaton’s birthday.
A belated birthday gift was presented to John Deaton on Saturday, who advocates for over 76,000 XRP token holders in the ongoing case between Ripple and the U.S. Securities and Exchange Commission (SEC). Cybercriminals accessed Deaton’s Twitter account and promoted a cryptocurrency called $LAW token, which has an almost negligible market cap.
The attorney is highly regarded in the cryptocurrency sector for his readiness to confront regulatory actions from U.S. authorities directly.
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Additionally, on Saturday, the entire crypto community came together to extend birthday wishes to Deaton. The attorney’s own Twitter account, CryptoLaw, clarified that the tweets were not authored by Deaton but by hackers. It emphasized the necessity for prompt action to resolve the issue.
Cryptocurrency traders frequently take cues from influential figures in the industry, rendering them susceptible to the dissemination of false and misleading financial information. Such incidents may provide regulators with further justification to scrutinize the sector with skepticism.
Deaton recently informed his Twitter followers that his account had been compromised via his daughter Jordan’s account. He urged the public to report the breach. Furthermore, the account of Peter Schiff, a vocal critic of cryptocurrencies and proponent of gold, was also hacked and utilized to promote a fraudulent gold coin scheme.
Spencer Schiff, Peter’s son, issued a warning to his father’s followers, stating that the URL in the post had “most certainly” been compromised. In contrast to Peter, Spencer holds a more optimistic view on the potential of cryptocurrency.
The hacker, impersonating Peter Schiff on Twitter, announced the official launch of Gold, a cryptocurrency token aimed at strengthening the Web3 community and bridging the gap between physical and digital currency markets.
