A prominent Dogecoin community leader and developer, known by the moniker Mishaboar, has recently issued a crucial security advisory aimed at all Dogecoin holders. In an X post, the developer sounded the alarm about a circulating email encouraging users to withdraw their funds from the “Dogechain dot info” site. The key takeaway from the post is that the email in question is indeed legitimate.
However, it is advised to type “dogechain dot info” directly into web browsers instead of clicking on links in the email. This is a critical step to protect against phishing attempts. Mishaboar underscores the importance of verifying the information independently and highlights that the “.com” domain of Dogechain has been linked to scams and phishing activities.
Many users have faced issues with their wallets due to lost 2FA authentication. If this is the case, users can seek support from the website’s developers, who may ask for a legal document to disable 2FA authentication, provided other login information is available, says a DOGE enthusiast. Security first A general security recommendation from Mishaboar is to never store crypto in an online wallet, whether encrypted or not.
Online wallets are susceptible to hacking, potential developer misconduct, and website compromises. The developer strongly advocates self-custodial wallets and emphasizes the need to back up keys multiple times and store seed phrases offline. He advises keeping only small amounts in hot wallets, such as smartphone wallets, while encouraging newcomers to exercise caution when dealing with smart contracts, including NFTs.
Lastly, the Dogecoin lead developer reminds users to withdraw their funds from exchanges, underscoring the importance of maintaining control and security over their crypto assets.
Dormant Dogecoin Wallet Became Active After 9.8 Years
Dogecoin has recently made headlines with a notable resurgence in its price over the past week. The cryptocurrency’s value surged by more than 5%, reaching the $0.07 mark on November 6, a level it had not seen since mid-August. This sudden increase in price has attracted significant attention from investors and traders alike.
As previously reported by TronWeekly, a Dogecoin wallet that had remained inactive since 2014 suddenly became active on October 28. The wallet transferred 5,392,984 DOGE, which is equivalent to $372,461, to another wallet. This transfer was detected by Blockchair, a blockchain tracking tool. The value of this previously dormant wallet experienced an astounding 80,000% increase, reaching nearly $376,758, primarily due to the current trading prices of Dogecoin.