Threat Management

Hackers target Bitcoin alternative, Dogecoins

Cyber criminals have hacked Dogewallet, a storage system for Dogecoins, which is an alternative to popular digital currency, Bitcoin.

According to a Reddit post by the Dogewallet founders, attackers gained access to the file system and were able to send users' Dogecoins to a different wallet without their authorization.

“No online wallet is ‘safe,' and don't put Dogecoin into online wallets unless you're willing to risk it,” the founders wrote.

Although millions of coins were reported stolen in the hack, it only equates to about $12,000 since Dogecoin is currently valued at about $0.000059 per coin. Bitcoin is currently valued at more than $700 per coin.

The founders of Dogewallet have stated that those accounts affected by the breach will be compensated.

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