DogeVault wallet falls victim to cyber attack, millions of Dogecoins believed to be missing

[Shawn Knight]

Hackers recently infiltrated DogeVault, the online wallet for Internet cryptocurrency joke-turned-viral success dogecoin.

A statement on the site’s front page says DogeVault was compromised on May 11, resulting in a service disruption and tampering with wallet funds. As soon as administrators were alerted, the service was halted but it was too late as the damage had already been done.

The statement claims they are in the process of identifying the extent of the attack and potential impact on users' funds. At this point, they know that intruders destroyed all data on the hosted virtual machines and they are trying to salvage existing wallet data from off-site backups.

They’re also looking into how the attackers were able to compromise the system by investigating potential attack vectors. It goes without saying that you shouldn’t transfer any funds to your DogeVault account during this time.

The scope of the attack is unknown at this hour but at least one site estimates as many as 111 million dogecoin (around $50,000) may have been taken in the heist. The service promises another update within the next 24 to 48 hours and with any luck, they’ll be able to reclaim some of its customers’ lost funds.

Online wallet services such as this are a popular destination for virtual currencies but they carry a considerable amount of risk. That said, it’s best to keep your cryptocurrency offline in cold storage.

Permalink to story.

https://www.techspot.com/news/56744-dogevault-wallet-falls-victim-to-cyber-attack-millions-of-dogecoins-believed-to-be-missing.html

 

[VitalyT]

Dodgycoin

 

[cliffordcooley]

Only $50K?

Hackers must have been bored or lightweight amatures, to go after so little!

 

[hahahanoobs]

A wise man once said, "Haw Haw"!

 

[RzmmDX]

These hackers must really hate and like doggycoin when they even destroyed the backups to prevent inflation.

 

[davislane1]

Only $50K?

Hackers must have been bored or lightweight amatures, to go after so little!

50k in a brokerage account and someone who knows how to trade it isn't so little (though, if they could do that, they probably wouldn't be hacking coin wallets). It also puts you right in the ballpark of a C7 Corvette.

This may not be big boys money, but, for a routine e-theft, I'd say that's a pretty large sum.

 

[Guest]

The bright side is that the stolen coins might be worth $50.00 after this fiasco.

 

[Guest]

Virtual currencies are a lot easier to steal than paper money or credit cards it seems.

Technological advancement?

 

[Guest]

Guest said:
Virtual currencies are a lot easier to steal than paper money or credit cards it seems.
Technological advancement?

you should get out of your basement more often, try walking around some "sleeping" district in the evening, you'll get personal experience how harder its to steal paper money

 

[Skidmarksdeluxe]

Dodgycoin

And dodgyvault. This sounds like a "take the money and run" to me

 

[misor]

A wise man once said, "Haw Haw"!

is this nelson, the doggie?

 

[wildrage]

Who let the Doges out!

 

[Guest]

"you should get out of your basement more often, try walking around some "sleeping" district in the evening, you'll get personal experience how harder its to steal paper money"

Put physical money in the bank. Someone robs the bank. You still have your money. There is also the FDIC.

Put crypto-money in the "bank". Someone robs the bank... pray that you're lucky?

 

[TheLastPanda]

Put physical money in the bank. Someone robs the bank. You still have your money. There is also the FDIC.

Put crypto-money in the "bank". Someone robs the bank... pray that you're lucky?

When someone robs a bank you lose your money. It gets refunded if it was insured but that doesn't mean your money wasn't stolen, and new money isn't generated from thin air. Once cyrpto is mainstream if it gets to that it will be much more secure than you may think because it will prevent theft in the first place. It was a fault of the site and not the coin. Storing coins offline in an encrypted wallet with backups has an unparalleled level of security and that is what places like Moolah do with almost all of the coins stored through them. That's like saying the U.S dollar is insecure because if I left it on a table, someone could pick it up. Its also impossible to make counterfeits which is currently a large problem for most major currencies.