Much coin, such hack. Wow.

Dogecoin, the joke-turned-digital currency and alternative to Bitcoin that comes from the Shiba Inu “doge” meme, owners lost a total of $12,000 in a hack yesterday. The founders of Dogewallet, a storage system for Dogecoin, confirmed that funds were sent to a wallet without users’ authorization. The hack targeted the official Dogewallet page, not individual accounts.

The hack was first reported on the Dogecoin forum and confirmed on the Dogecoin Reddit and Dogewallet. Dogewallet transactions were sent to “DQT9WcqmUyyccrxQvSrjcFCqRxt8eVBLx8,” and the Dogewallet founders found thousands of attempts to break into the system. The hack began from access to the Dogewallet file system and modified the send/receive page. Dogewallet stated on its website:

“We’re incredibly sorry to all users who lost funds from the attack. Please use offline wallets as online wallets are meant for new users who aren’t using them as a storage of coins. Offline wallets are more safe and secure than any online wallet due to possible attacks that can originate from anyone, anywhere.

If you were affected by this:

All invested user balances will be fully compensated first. We’ll be working on compensating as much balance as possible that wasn’t invested right after (roughly 15-30m can be compensated immediately). Send me a Reddit message with your information and address if you had an investment (not balance) on the site.”

One Dogecoin is valued at roughly $0.00059. Millions of Dogecoins were stolen in unauthorized transfers. Because the new currency has such a low value at the moment, a combined value of about $12,000 was stolen.

Source: Dogewallet via The Verge

You may also like