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 also entrepreneur, Michael Terpin took legal action against AT&T, an US based multinational telecoms firm, for $224 million; Dogecoin (DOGE) creator, Jackson Palmer has stepped forward, articulating his opinions against SIM hacking and also calling it a “horrible point”.

Michael Terpin’s loss has upset cryptocurrency traders like Palmer. Palmer articulated his viewpoint on Twitter with a range of tweets. Speaking about SIM hacking, he tweeted: “I undoubtedly feel sorry for the people who obtain hacked through SIM hacking, it’s an awful thing that I rejoice is obtaining eyes on it. At the same time, really use cryptocurrency as meant would alleviate these strikes completely.”

Dogecoin founder questions relying on central exchanges with cryptocurrencies
Pointing out Terpin’s loss, the creator of Dogecoin stated that the case is a ‘dig’ at the crypto holders that turn over central exchanges with their cryptocurrencies that are worth as long as $24 million. Cryptocurrencies are expected to keep central exchanges away as cryptocurrency owners are intended to be their “own bank, without any central event holding your secrets”.

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

Palmer stated that it is unanticipated that cryptocurrency millionaires are suffering through exact same innovation. “… but you need to value the irony of cryptocurrency millionaires falling victim to something that the technology they advocate for naturally aims to address,” Palmer tweeted.

Message for Telecommunications carriers
Palmer sent words of guidance for the telecom service providers. Urging network companies “to get their act with each other”, he additionally asked to “stop supporting SMS 2FA”.

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