- Hackers pushed a cryptocurrency with an almost nonexistent market cap called $LAW token.
- On Saturday, the crypto community came together to wish Deaton a happy birthday.
A late birthday present was given to John Deaton on Saturday, who represents over 76,000 XRP token holders in the litigation between Ripple and the U.S. Securities and Exchange Commission (SEC). Hackers gained access to Deaton’s Twitter account and pushed a cryptocurrency with an almost nonexistent market cap called $LAW token.
The attorney is well-respected in the crypto market industry for his willingness to take on regulatory enforcement from U.S. authorities head-on.
Underlined Immediate Action
Moreover, on Saturday, the whole crypto community came together to wish Deaton a happy birthday. The attorney’s own Twitter account, CryptoLaw, explained that the tweets were not written by Deaton but by hackers. It underlined the need for immediate action to address the problem.
Cryptocurrency traders often take cues from prominent industry personalities, making them vulnerable to the spread of false and misleading financial information. But these kinds of actions might give authorities more cause to view the sector with suspicion.
Deaton recently notified his Twitter followers that his account had been hacked through his daughter Jordan’s account. His Twitter account has been compromised, he encouraged the public to report. Moreover, recently the account of Peter Schiff, an outspoken opponent of cryptocurrencies and advocate for gold, was compromised and used to promote a bogus gold coin scam.
Peter Schiff’s son, Spencer, tweeted out a warning to his father’s followers, saying that the URL in the post had “most certainly” been compromised. When compared to Peter, Spencer is more bullish on cryptocurrency’s potential.
The hacker, posing as Peter Schiff on Twitter, declared the official launch of Gold, a cryptocurrency token that would fortify the Web3 community and bring the physical and virtual currency markets together.