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- Ripple CTO David Schwartz flagged a suspicious post from John Deaton’s account promoting Arch Public, warning the crypto community to verify the authenticity of the message.
- Deaton later confirmed that someone hadn’t hacked his account. He explained his support for Arch Public and emphasized the platform’s potential to help everyday investors.
- The incident comes amid rising security breaches in crypto, with over $2 billion stolen in hacks in 2024, highlighting ongoing concerns about platform safety.
Ripple Labs’ Chief Technology Officer, David Schwartz, has publicly warned the crypto community about a suspicious post from prominent attorney John Deaton’s X (formerly Twitter) account. The post, which appeared to endorse a little-known crypto platform called Arch Public, sparked widespread concern among Deaton’s 354,000 followers. Many of his followers suspected that someone had compromised the account.
“This post looks wrong in many ways. Please do not trust this until you see confirmation he hasn’t been hacked,” Schwartz wrote, urging caution.
People know Deaton for his vigorous defense of XRP holders and his relentless advocacy for regulatory clarity in crypto. People widely respect him for sticking to legal commentary and investor rights. That’s why his sudden promotion of Arch Public without any background, explanation, or legal context raised eyebrows. The post even tagged major crypto players like Gemini, further fueling speculation.
Furthermore, for long-time followers, the message felt jarringly off-brand. Deaton typically focuses on legal skirmishes, SEC lawsuits, and policy reforms, not casual product endorsements. The strange tone and lack of detail led many to believe that someone had hacked his account.
The crypto community quickly mobilized. People shared screenshots of the post across platforms, dissected them for inconsistencies, and flagged them as suspicious. Given Deaton’s track record and reputation, the silence that followed only heightened anxiety. Some feared that someone had fully breached the account, while others questioned whether a third party or AI had.
Schwartz’s public warning gave the suspicions weight, and soon, discussions around security, trust, and transparency in crypto took center stage once again.
Ripple Advocate John Deaton Breaks Silence
Hours later, Deaton responded and clarified that his account had not been hacked and explained his position. He reiterated his lifelong mission: to level the playing field for everyday investors. He supports Arch Public for its commitment to democratizing investing, an ethos he has always backed.
Moreover, Deaton noted that his past support for projects like XRP, Bitcoin, SpendTheBits, and now Arch Public is rooted in their potential to help ordinary people access financial tools without needing to risk money or pay fees. Despite accusations of being a “Ripple plant” and enduring backlash from Bitcoin maximalists, he maintained that his support is always mission-driven.
“If a tool can help people build wealth without them risking money, I’m behind it regardless of criticism,” Deaton stated.
He also announced that he would go live on April 16, 2025, at 3 PM EST on X to address any confusion and respond to community questions directly. He thanked his followers for their concern and emphasized the importance of clarity in a space increasingly plagued by misinformation.
Ripple Faces Rising Threats as Hacks Surpass $2 Billion in 2024
This incident unfolds as the broader crypto landscape battles a surge in cyberattacks and security breaches. Just this week, decentralized exchange KiloEx lost $7.5 million after hackers exploited vulnerabilities in its pricing mechanism. The exploit caused the platform’s native token, KILO, to plummet by 32% and affected networks like BNB Smart Chain, Base, and Taiko.
Similarly, Ethereum Layer-2 project ZKsync reported a security breach involving a compromised admin account, resulting in the theft of approximately $5 million worth of ZK tokens from a recent airdrop.
These incidents are part of a troubling trend. With over $2 billion stolen through hacks in 2024 alone, the crypto space continues to face intense scrutiny regarding the safety of user assets. It marks the fourth consecutive year where crypto-related theft has crossed the $1 billion threshold.
Related | KiloEx Exploit Drains $7M, Shakes Investor Confidence in DeFi
