Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Technology News

 

Dogewallet Christmas Hack Results in Lost of Millions of Dogecoins

Dogecoin is a digital currency that is the poor cousin of Bitcoin. Its storage space on the Net, Dogewallet, underwent a heist which resulted in lost credibility for the founders of the enterprise as millions of Dogecoins were stolen.

1 Updates
Dogewallet Christmas Hack Results in Lost of Millions of Dogecoins
Image Credit: Reddit
 
 

YouTube Videos Comments

Full Story

Dogewallet Christmas Hack Results in Lost of Millions of Dogecoins

After a couple of people noted that their Dogecoins were being stolen online, the site owners decided to close down the main page for repair. Some hacker had been transferring the digital currency from Dogewallet to his own account. Although millions of Dogecoins were pilfered, the net amount that got stolen was only $12,000. 

Dogecoin can’t compare to Bitcoin which is worth much more in monetary terms. A single Bitcoin is worth $700 in real life. Dogecoin and Dogewallet were begun as a curious anomaly in cyberspace. The dog meme inspired this phenomenon which is invested in by many people. However, no one takes it that seriously. But with the theft, this has changed. The complaints are arriving on the message boards with fury and frustration.

Founders will have to explain what exactly was going on. The official Dogewallet website states, "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."

Then there was the investor who lost everything he had and he simply expressed sadness and regret on having trusted Dogecoin. The mismanagement and irresponsibility has really hit the Netiquette of the website hard. Now, it will have to prove that it can repay the clientele who lost their cash through its negligence.

"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)," states Dogewallet. And although the owners are promising the return of the lost money, the damage to their enterprise’s image is significant. What they have lost is credibility and like virginity once it is gone it never returns.

Source: DogWallet via BF

 

iPad Air Giveaway. Win a free iPad Air.

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

Comments

blog comments powered by Disqus

Latest stories

Microsoft set to unveil Windows 9 on September 30th
Microsoft set to unveil Windows 9 on September 30th
While Threshold is likely to be named Windows 9, it’s unlikely that Microsoft will name its upcoming Windows release at its press event.
 
 
Tara Reid Wears Revealing Dress at Sharknado 2 Screening
Tara Reid Wears Revealing Dress at Sharknado 2 Screening
Sharknado 2 hit the big screen yesterday in LA. Tara Reid used the occasion for a dramatic red carpet appearance. How does this dress stay on her boobs?
 
 
Mariah Carey Feels Sorry About her Marital Issues
Mariah Carey Feels Sorry About her Marital Issues
The pop diva, Mariah Carey feels sorry about her marital issues. Her problems with her husband may offer trouble in the future for the rich and famous songstress.
 
 
Rear Panels Of 5.5-inch iPhone 6 In Latest Leak
Rear Panels Of 5.5-inch iPhone 6 In Latest Leak
The 4.7-inch iPhone 6 and the unofficially-named ‘iPhone 6L’ will play out like the smartphone version of the iPad mini 2 and iPad Air.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.