Bitcoin investor’s crypto theft: Dogecoin founder takes a dig at holders for trusting centralized exchanges

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August 17, 2018 by
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Bitcoin investor’s crypto theft: Dogecoin founder takes a dig at holders for trusting centralized exchanges

After Bitcoin investor and business owner, Michael Terpin took legal action against AT&T, an US based international telecoms business, for $224 million; Dogecoin (DOGE) founder, Jackson Palmer has actually stepped forward, articulating his opinions against SIM hacking and calling it a “dreadful point”.

Michael Terpin’s loss has startled cryptocurrency investors like Palmer. Palmer voiced his viewpoint on Twitter with a range of tweets. Talking about SIM hacking, he tweeted: “I certainly pity the people that get hacked by means of SIM hacking, it’s a terrible thing that I’m glad is getting eyes on it. At the same time, in fact make use of cryptocurrency as planned would mitigate these strikes completely.”

Dogecoin creator questions trusting central exchanges with cryptocurrencies
Pointing out Terpin’s loss, the owner of Dogecoin stated that the event is a ‘dig’ at the crypto holders who leave central exchanges with their cryptocurrencies that deserve as much as $24 million. Cryptocurrencies are expected to keep centralized exchanges at bay as cryptocurrency holders are intended to be their “own financial institution, with no centralized party holding your tricks”.

His tweet stated: “^ this isn’t really a dig at cryptocurrency, it’s a dig at any person who keeps $24M well worth of cryptocurrency on a centralized exchange, defeating the entire function of claimed cryptocurrency.”

Palmer specified that it is unanticipated that cryptocurrency millionaires are suffering through exact same technology. “… however you need to value the paradox of cryptocurrency millionaires dropping target to something that the modern technology they support for naturally intends to fix,” Palmer tweeted.

Message for Telecom carriers
Palmer sent words of recommendations for the telecommunications provider. Urging network companies “to get their act with each other”, he additionally asked to “quit supporting TEXT 2FA”.

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