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 sued AT&T, an US based international telecoms company, for $224 million; Dogecoin (DOGE) owner, Jackson Palmer has stepped forward, voicing his opinions versus SIM hacking as well as calling it a “dreadful point”.

Michael Terpin’s loss has startled cryptocurrency traders like Palmer. Palmer articulated his opinion on Twitter via a range of tweets. Speaking about SIM hacking, he tweeted: “I undoubtedly feel sorry for individuals that get hacked through SIM hacking, it’s an awful thing that I rejoice is obtaining eyes on it. At the same time, really utilize cryptocurrency as intended would certainly reduce these attacks totally.”

Dogecoin owner concerns trusting centralized exchanges with cryptocurrencies
Citing Terpin’s loss, the founder of Dogecoin specified that the case is a ‘dig’ at the crypto holders who entrust central exchanges with their cryptocurrencies that deserve as high as $24 million. Cryptocurrencies are meant to maintain central exchanges at bay as cryptocurrency owners are intended to be their “very own financial institution, without centralized celebration holding your secrets”.

His tweet stated: “^ this isn’t a dig at cryptocurrency, it’s a dig at any person that maintains $24M worth of cryptocurrency on a centralized exchange, defeating the whole function of stated cryptocurrency.”

Palmer stated that it is unforeseen that cryptocurrency millionaires are experiencing by exact same innovation. “… but you have to value the paradox of cryptocurrency millionaires dropping prey to something that the innovation they support for inherently intends to fix,” Palmer tweeted.

Message for Telecommunications providers
Palmer sent words of suggestions for the telecom service providers. Urging network suppliers “to obtain their act together”, he also asked them to “stop sustaining TEXT 2FA”.

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