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Dogecoin

Dogecoin Influencer Believes DOGE Wallet Hack Was Planned And Targeted

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A Dogecoin influencer has shared his thoughts on how the hack that occurred on the official X (formerly Twitter) account of the My Doge Wallet must have happened. Apparently, there is the possibility that the hack was done to prove a point. 

Dogecoin Wallet Account Hack “Well Planned And Diabolically Timed”

In a post on his X (formerly Twitter) platform, Dogecoin influencer Mishaboar stated that the hack on MyDoge’s X account was “well planned and diabolically timed.” Regarding the timing, the influencer was referring to the fact that it occurred on Dogecoin’s anniversary. He believes that the hack was done to hijack this “special Dogecoin day.”

Related Reading: Dogecoin In Space: DOGE-1 Announces Strategic Partnership With Radio Doge

As to how it happened, Mishaboar noted that it was most likely a SIM-swap attack. If so, then it is similar to what happened to Ethereum’s co-founder Vitalik Buterin. Buterin lost his X account to hackers back in September, with him confirming later on that it happened as a result of a SIM swap attack. 

After making his suspicions known, Mishaboar also used the opportunity to admonish the community on how to keep their account safe. He advised that they enable 2FA authentication on X using an authenticator application or a physical security key. He noted that this is even more crucial for accounts with a large following. 

The community has the influencer to thank, as he was one of those who quickly warned others that MyDoge’s X account had been compromised at the time the hack occurred. The hackers had posted phishing links, which could have led to users’ wallets being drained. 

These scams and hacks seem to be on the rise this period as Shiba Inu’s scam detector Susbarium had recently warned of impersonators and scammers in the community who are out to mislead users. 

MyDoge X Account Restored

Alex, the Chief Technology Officer (CTO) of the My Doge Wallet, confirmed in an X post that the MyDoge X account has been restored. In a subsequent post, Alex also confirmed Mishaboar’s suspicions as he stated that his phone was SIM swapped. He admitted that 2FA was not enabled on the account as that would have “prevented the hack immediately.”

Related Reading: Crypto 2024 Outlook: The Major Events To Watch Out For

Meanwhile, just like he mentioned at the time the hack occurred, he reiterated that all user wallets and data were safe and that the hackers didn’t have access to any of these. According to him, the hackers can’t have access to such information as the company doesn’t have access to users’ funds since it is a self-custodial wallet.

Dogecoin price chart from Tradingview.com

DOGE begins recovery trend | Source: DOGEUSD on Tradingview.com 
Featured image from Forbes, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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