XRP Advocate Sounds Alarm on Advanced Crypto Scams

Crypto lawyer and XRP advocate John Deaton has issued a cautionary message to investors about the increasing prevalence of scams targeting the digital asset industry.

Highlighting the growing sophistication of cybercriminals, Deaton warned that private wallets and crypto exchange accounts are prime targets.

In a detailed thread on social media platform X, Deaton emphasized the importance of vigilance. He advised users to avoid clicking on suspicious links, always enable two-factor authentication (2FA) for added security, and never share sensitive information like passwords or seed phrases. Deaton also pushed back against the notion that victims of such scams are at fault, stressing that no one deserves to lose their hard-earned money to fraud.

Drawing from personal experience, Deaton recounted a close encounter with scammers who hacked into his WiFi network. They sent him a fake email, impersonated his crypto exchange, and even posed as customer service representatives to pressure him into sharing his account credentials. The fraudulent email claimed he needed to reset his password, but Deaton quickly recognized the ruse.

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By feigning a delay and switching off his WiFi, he accessed his account securely through cellular data, confirming his network had been compromised. The breach extended to his business network, creating additional vulnerabilities. A few months later, Deaton’s SIM card and social media accounts were also hacked, underscoring the persistence and sophistication of these attacks.

Deaton’s experience serves as a reminder of the importance of cybersecurity in the crypto space, urging investors to remain alert and proactive in protecting their assets.

Alexander Stefanov