• Wed. Feb 21st, 2024

Disgruntled Employee Hacks Crypto Exchange’s Twitter


Latoken, a Russian crypto exchange Twitter account has been hacked. The “hacker” since then has been posting various claims accusing the exchange platform of being a scam. Going by the posts made by the hacker, the exchange platform has been promoting dogecoin millionaire and deceiving a majority of its clients.

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The Twitter account’s profile picture since then has also been changed by the hacker. A scam warning image was uploaded in place of the exchange’s logo. The Twitter bio was also changed, tagging LATOKEN as the top scandalous exchange platform. The hacker who was eventually identified as a disgruntled employee claims that the exchange unfairly treats employees while sacking most without any reason.

The hacker went further claiming the exchange is purposely trying to exploit money from the project while guaranteeing 100% to 500% expansion without coming through. The hacker went as far as calling the CEO of Latoken, Valentin Preobrazhensky, a “face seller” and a liar.

However, the hacker didn’t stop with just Latoken’s Twitter account. The official Twitter account of LADEX, Ladoken’s Project DEX, was also hacked The hacker uploaded a video displaying an online meeting with Valentin Preobrazhensky as the Latoken’s CEO cursed out an individual during the convocation.

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The hacker also emphasized Latoken’s TrustPilot review which has a rating of two stars. TrustPilot also sent out a warning broadcast stating that the website had detected an abuse on Latoken’s page. The investigation detected that there have been several fake reviews about Latoken. This means that the score should be lower than the two ratings it currently has.

Latoken’s Response

Following the series of accusations made by the hacker, Latoken via its Telegram channel confirmed the situation and gave an update. According to Latoken, the hack and the ensuing allegations were from a disgruntled worker.

The crypto exchange assured its clients that they are working with Twitter support to help solve the situation. After that, Latoken gave a full narration of the whole encounter.

According to the Latoken team, the exchange platform first had difficulties managing its corporate Twitter account on the 24th of January 2022. The team later discovered that the difficulty was due to an unauthorized access a rogue employee had into the account.

Within a few hours of being able to gain access to the Twiter account, the individual had posted libelous and malicious content on the exchange’s Twitter feed, the team said. The team acknowledged that the content created negative publicity for the exchange platform having a vast impact on the reputation they’ve built for years.

Latoken claimed their team was able to eventually gain access to the Twitter account. Then, they deleted the libelous contents pasted all over the Twitter feed. The exchange denied every accusation laid by the hacker as they claim they do not agree with any of the misleading contents. Latoken also claims that the hack was executed by a disgruntled employee who had full access to their Twitter account.

Latoken ascertained the security of the platform was never compromised by an external party and continues to remain extraordinary. Since the exchange platform was established in 2017, it has been one of the top exchanges for startup tokens. Presently, the exchange platform features more than 250 IEO’s and registered clients of more than two million.

Not the First Time

This won’t be the first time social media accounts belonging to crypto exchanges and enthusiasts are being hacked. Recently, a number of YouTube crypto accounts belonging to exchanges and crypto enthusiasts have been hacked.

Many of the hackers made videos asking subscribers and viewers to send funds to unknown third-party crypto wallets. Accounts of popular figures such as Box Mining, sucBatboyitboy Crypto, Ivan on Tech, and Floyd Mayweather, the superstar boxer have been hacked. Luckily, most account owners quickly detected the breach and deleted the video a few minutes after it was posted.

A similar attack on Twitter accounts of distinguished personalities also took place in 2020. The official Twitter account of Bill Gates, Kanye West, Bill Elon Musk, and several celebrities were hacked. The hacker promised to double the worth of crypto amount transferred to the unidentified crypto wallet address provided in the video.

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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.