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 financier and business owner, Michael Terpin filed a claim against AT&T, an US based international telecoms firm, for $224 million; Dogecoin (DOGE) founder, Jackson Palmer has stepped forward, articulating his point of views against SIM hacking as well as calling it a “awful thing”.

Michael Terpin’s loss has surprised cryptocurrency traders like Palmer. Palmer articulated his viewpoint on Twitter with a selection of tweets. Discussing SIM hacking, he tweeted: “I clearly pity the people that obtain hacked using SIM hacking, it’s a terrible point that I rejoice is getting eyes on it. At the same time, in fact use cryptocurrency as meant would certainly reduce these strikes totally.”

Dogecoin owner concerns relying on centralized exchanges with cryptocurrencies
Pointing out Terpin’s loss, the founder of Dogecoin specified that the event is a ‘dig’ at the crypto holders who leave central exchanges with their cryptocurrencies that are worth as long as $24 million. Cryptocurrencies are meant to keep centralized exchanges at bay as cryptocurrency owners are expected to be their “own bank, with no centralized celebration holding your keys”.

His tweet claimed: “^ this isn’t a dig at cryptocurrency, it’s a dig at anyone that maintains $24M worth of cryptocurrency on a centralized exchange, beating the whole objective of claimed cryptocurrency.”

Palmer specified that it is unexpected that cryptocurrency millionaires are suffering through same modern technology. “… but you have to value the irony of cryptocurrency millionaires dropping victim to something that the modern technology they advocate for naturally aims to solve,” Palmer tweeted.

Message for Telecom companies
Palmer sent words of recommendations for the telecom company. Urging network providers “to obtain their act with each other”, he likewise inquired to “stop supporting SMS 2FA”.

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