Several curious events took place in crypto this weekend, from a thought-provoking mock summit to high-profile Twitter account hacks and discussions of potential technological advancements.
Uniswap fake event
In an extraordinary display of deception, a group in Shenzhen, China, organized an event under the guise of the “First Uniswap Asian Summit” and had a supposed “CEO of Uniswap” in attendance. However, as Hayden Adams, “inventor of the Uniswap protocol,” mention on Twitter, the event was not associated with Uniswap or Uniswap Foundation and was likely a scam. The scammers even went so far as to charge a fork from the Uniswap website, adding Chinese community content while linking to the legitimate Uniswap app.
Peter Schiff’s fake $GOLD token
Peter Schiff, CEO of Euro Pacific Capital and renowned Bitcoin antagonist, had his Twitter account hacked, with the hacker promoting an alleged launch of a new cryptocurrency. The tweet encouraged followers to claim “Claim your $GOLD,” a bogus crypto project tied to Schiff’s favorite asset class. Schiff’s son, Spencer Schiff, soon warned followers, urging them not to click the link and emphasizing that his father had likely been hacked.
XRP fake $LAW token
Pro-XRP attorney, John Deaton, was hit by a phone hack on June 4 during a relentless cyberattack over several days. CryptoLaw, an account created by the lawyer representing XRP token holders in the Ripple SEC lawsuit, responded to the hacker’s tweet from the lawyer’s account.
Deaton took proactive steps to communicate with his Twitter followers, using his daughter Jordan Deaton’s Twitter account to let people know about the hack. to report, ”I still can’t access my Twitter account. Twitter informed me it could take 1-3 days.”
OpenAI fake $OPENAI token
In another surprising twist, Mira Murati, CTO of OpenAI, fell victim to a hacking incident aimed at promoting a fraudulent cryptocurrency. Trace Cohen, a serial entrepreneur and investor, shared the news on Twitter, highlighting that AI and technology are only as strong as their weakest link, which is often a “human” element.
The deleted tweet claimed the introduction of a groundbreaking token called “$OPENAI”, powered by artificial intelligence-based language models. It encouraged users to visit a link to check if they are eligible to be airdropped to their Ethereum addresses.
Elsewhere on Crypto Twitter, scams were less of a priority as Twitter Spaces continued to thrive in the crypto space. For example, Binance CEO Changpeng Zhao (CZ) held a Twitter Spaces AMA on May 31, where he discussed a variety of topics from Binance layoffs to possible support for the Lightning Network on Binance’s platform.
A breakdown released on June 2 stated that it acknowledged that the implementation of the Lightning Network would require significant modifications to their secure wallet infrastructure. However, he expressed optimism about the possibility of the network being supported, particularly for Binance Pay and various wallet services.
As the world of cryptocurrency continues to grow, the events unfolding on Crypto Twitter this weekend serve as a powerful reminder of the challenges and risks associated with rapid innovation. Crypto Twitter’s cultural influence is undeniable, fostering a community that thrives on knowledge sharing, lively discussion, and real-time updates.
However, alongside the positive developments, the space has become a breeding ground for hackers and scammers looking to exploit users’ trust, leading to increased demand for security and vigilance.
The multiple high-profile hacks over the weekend highlight the need for the wider industry to invest in addressing security vulnerabilities and ensuring ecosystem integrity while maintaining the open discussion and collaboration that has come to define our industry.
