During a recent Twitter exchange, a participant from the cryptocurrency community and a Ripple representative entered into a heated debate concerning the genesis of XRP, a widely recognized digital currency. This conversation provided valuable insights into the fascinating factors surrounding the birth and growth of XRP, leaving numerous individuals astonished by the disclosed revelations.
The controversy emerged when a crypto community member disputed the claim that Ripple was responsible for the creation of XRP. They put forth supporting evidence from Ripple’s past, such as the development of Ripple Credits and a notable incident involving Jed McCaleb resetting the XRPL.
The disappearance of initial blocks raised concerns about potential concealment of XRP distribution. Additionally, allegations of XRP theft and agreements with the original developers were brought up, prompting the need for a deeper inquiry into these matters.
In response to these allegations, David Schwartz, the Chief Technology Officer at Ripple and one of the key contributors to the development of XRP Ledger, addressed the claims through a series of tweets. He refuted the entire basis of the argument and drew a comparison to the creation of Bitcoin Cash.
Schwartz highlighted that during the creation of Bitcoin Cash, many individuals already possessed the cryptocurrency, but its existence was not a result of direct involvement from the creators of Bitcoin Cash. He emphasized that modifications in system rules or operations do not give rise to new versions of existing assets.
In response to a question from a follower about the original abbreviation “XNS” used when XRP was created, Schwartz provided an explanation. He clarified that the “X” is frequently employed as the initial character for currencies that are not issued by any specific country since no country code begins with “x.” Additionally, he mentioned that “NS” stands for “New coins,” indicating the birth of a new cryptocurrency.
Cyber Attack Targets XRP-Pro Lawyer Deaton’s Twitter Account to Boost Scam Token
John Deaton, the founder of CryptoLaw and an attorney representing numerous XRP holders in the SEC vs. Ripple lawsuit, has fallen prey to a Twitter hack.
Recently, the Twitter account belonging to this advocate for XRP was compromised. In the aftermath of the incident, unidentified individuals who orchestrated the attack exploited Deaton’s considerable influence to promote a token called LAW.
Following the hack, John Deaton resorted to utilizing his daughter Jordan Deaton’s Twitter account to address the incident. The renowned cryptocurrency supporter shared that the Twitter team had provided assurances of restoring his access to the hacked account within the next 1-3 days. Deaton also took the opportunity to urge Twitter CEO Elon Musk to address and rectify the issue promptly.
Pro-XRP Attorneys Speak Out: Insights and Reactions
The news has triggered responses from cryptocurrency enthusiasts, including legal professionals who have been closely monitoring the SEC vs. Ripple lawsuit. Bill Morgan, a lawyer based in Australia, informed his followers about the hacking incident affecting Deaton’s account.
In a related update, defense attorney James K. Filan revealed that he had a conversation with Deaton regarding the incident. According to Filan, Deaton expressed confidence in recovering access to his Twitter account within the next two to three days.
Through Filan, Deaton conveyed an apology to his nearly 270K followers and advised them to refrain from using his Twitter account until further notice.
In the midst of these events, CryptoLaw, the official Twitter account of a legal and regulatory news outlet founded by Deaton, responded to the situation. CryptoLaw clarified that the promotion of the LAW token was not endorsed by Deaton. The account further explained that Deaton’s phone had been hacked as a result of a persistent cyberattack that persisted for several days.
CryptoLaw urged Deaton’s followers to disregard any information originating from the compromised account until the CryptoLaw team confirms that the pro-XRP lawyer has regained control over it.