Latoken's Twitter Compromised, Hacker Alleged to be "Disgruntled Employee"

The Russian crypto exchange platform Latoken was compromised on Monday morning. At around 11 AM Moscow time, the hacker tweeted allegations that the company was “misleading founders to think they will have successful IEOs”.

Among the main accusations is the claim that the crypto exchange platform promises a 100% to 500% growth which it fails to deliver. In another tweet, the hacker directly targeted the founder of Latoken, Valentin Preobrazhensky, calling him a “typical liar” and “face seller”.

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The person in control of the account has been responding to and retweeting tweets by others, asking to “spread the word” and further declaring the company’s founder a “scammer”. 

The treatment of employees was another point brought up by the hacker, alleging mistreatment and firings “for no reason”. A video was tweeted that showed the CEO of Latoken swearing and shouting during an online meeting.

In addition to these allegations, the hacker changed the profile picture to display a scam warning. The Twitter bio was also edited, stating (sic.):

LATOKEN is the leading SCAM platform!! They fire employees for no reason and treat them like trash !!! they deliberately try to scam money out of projects!

The hacker posted a link to the platform’s Trustpilot page, emphasizing its two-star rating. Trustpilot has since updated the page, stating possible misuse and a surge of fake reviews. The official Twitter account of Latoken's DEX project, LADEX, also has been compromised.

As of writing this, Preobrazhensky has not directly responded to the claims on Twitter.

The platform’s official Telegram account has announced that the account was compromised by who they believe to be a “disgruntled employee”. According to the announcement, Twitter Support has been contacted, and the company will be taking legal action against the perpetrator.

At the end of the statement, Latoken reassured that the crypto exchange platform is “100% secure”.

This is not the first hacking on Twitter of this scale. In 2020, over 100 accounts, including figures like Elon Musk, Barack Obama, as well as companies such as Apple, were compromised. The hijacker posted an address of a Bitcoin wallet, receiving around $110,000 worth of cryptocurrency before the scam tweets were removed.

Update: Latoken has announced that they regained control of the official Twitter account and discovered the perpetrator.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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