Crypto exchange’s Twitter gets hacked by ‘disgruntled employee’

The Twitter account of the Russian crypto exchange Latoken seems to have been breached by a hacker who started posting allegations that the exchange is a scam. According to the posts, the exchange is promoting “scam IEOs” and misleading its customers. 

WARNING – THIS IS A SCAM EXCHANGE

They are promoting scam IEOs.

They are promoting IEOs promising growth of 100% to 500%.

They are cheating and lying to founders and employees.

They are misleading founders to think they will have successful IEOs while it never happens.

— LATOKEN (@latokens) January 24, 2022

The profile picture of the account was also changed into a scam warning image, while the Twitter page’s bio was edited to “LATOKEN is the leading SCAM platform!” According to the hacker, the exchange treats employees unfairly and also fires employees for no reason.

The hacker has also accused the exchange of deliberately trying to “scam money out of projects” and promising 100%–500% growth without delivering. The hacker also called Valentin Preobrazhensky, the founder of Latoken, a “liar” and a “face seller.”

Apart from Latoken, the official Twitter of LADEX, the company’s decentralized exchange project was also compromised. The hacker posted a video of an online meeting showing the Latoken CEO screaming curses at someone in the call.

The hacker also highlighted Trust Pilot’s review on Latoken, which is only two out of five stars. However, a warning message in Trust Pilot says that the site detected misuse on Latoken’s page, stating that it has detected a number of fake reviews.

In response to the incident, Latoken’s official Telegram account published an update telling its users about the hack. The exchange said it believes the accusations to be the act of a “disgruntled employee” and that its team is in touch with Twitter support to fix the problem.

Related: Crypto.com breach may be worth up to $33M, suggests onchain analyst

Several crypto YouTube accounts have faced a series of hacks recently. Hackers posted videos that instructed viewers to send money to the hacker’s wallet using the accounts of famous personalities such as BitBoy Crypto, Box Mining, Ivan on Tech and even boxing superstar Floyd Mayweather Jr. Luckily, many of the account owners were able to detect and remove the videos within minutes.

Back in 2020, a similar hack compromised the Twitter accounts of prominent individuals. The official accounts of Elon Musk, Kanye West, Bill Gates and others were hacked by a Bitcoin (BTC) thief who published posts claiming to double any crypto amount sent to a certain wallet address.