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 investor and also entrepreneur, Michael Terpin filed a claim against AT&T, an US based multinational telecommunications company, for $224 million; Dogecoin (DOGE) owner, Jackson Palmer has actually progression, articulating his opinions versus SIM hacking and calling it a “dreadful thing”.

Michael Terpin’s loss has actually alarmed cryptocurrency investors like Palmer. Palmer articulated his opinion on Twitter through a selection of tweets. Speaking about SIM hacking, he tweeted: “I clearly feel sorry for individuals who obtain hacked via SIM hacking, it’s a terrible thing that I’m glad is obtaining eyes on it. At the same time, really utilize cryptocurrency as meant would reduce these attacks completely.”

Dogecoin founder questions trusting centralized exchanges with cryptocurrencies
Citing Terpin’s loss, the creator of Dogecoin specified that the event is a ‘dig’ at the crypto owners who hand over centralized exchanges with their cryptocurrencies that are worth as long as $24 million. Cryptocurrencies are intended to keep centralized exchanges at bay as cryptocurrency owners are expected to be their “own bank, without any centralized celebration holding your tricks”.

His tweet stated: “^ this isn’t a dig at cryptocurrency, it’s a dig at anybody that keeps $24M worth of cryptocurrency on a centralized exchange, defeating the whole purpose of claimed cryptocurrency.”

Palmer stated that it is unforeseen that cryptocurrency millionaires are enduring at the hands of same modern technology. “… however you need to value the irony of cryptocurrency millionaires falling target to something that the technology they promote for inherently aims to address,” Palmer tweeted.

Message for Telecom suppliers
Palmer sent words of suggestions for the telecommunications company. Urging network carriers “to obtain their act together”, he also inquired to “quit sustaining SMS 2FA”.

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