Bitcoin investor’s crypto theft: Dogecoin founder takes a dig at holders for trusting centralized exchanges

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August 17, 2018 by
Bitcoin investor’s crypto theft: Dogecoin founder takes a dig at holders for trusting centralized exchanges

After Bitcoin capitalist and business owner, Michael Terpin took legal action against AT&T, a United States based multinational telecoms company, for $224 million; Dogecoin (DOGE) creator, Jackson Palmer has advance, voicing his opinions against SIM hacking and calling it a “awful point”.

Michael Terpin’s loss has actually startled cryptocurrency traders like Palmer. Palmer articulated his viewpoint on Twitter with a selection of tweets. Speaking about SIM hacking, he tweeted: “I undoubtedly feel sorry for the people that get hacked by means of SIM hacking, it’s a dreadful point that I rejoice is getting eyes on it. At the same time, actually make use of cryptocurrency as planned would mitigate these attacks totally.”

Dogecoin creator questions relying on central exchanges with cryptocurrencies
Pointing out Terpin’s loss, the owner of Dogecoin specified that the event is a ‘dig’ at the crypto owners that hand over centralized exchanges with their cryptocurrencies that deserve as long as $24 million. Cryptocurrencies are intended to maintain central exchanges away as cryptocurrency owners are supposed to be their “own bank, without central celebration holding your secrets”.

His tweet stated: “^ this isn’t really a dig at cryptocurrency, it’s a dig at any person that maintains $24M worth of cryptocurrency on a centralized exchange, defeating the entire objective of said cryptocurrency.”

Palmer specified that it is unexpected that cryptocurrency millionaires are enduring at the hands of very same technology. “… yet you have to value the irony of cryptocurrency millionaires dropping victim to something that the technology they support for naturally intends to fix,” Palmer tweeted.

Message for Telecommunications service providers
Palmer sent words of advice for the telecom service providers. Urging network carriers “to obtain their act with each other”, he also asked them to “quit supporting TEXT 2FA”.

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