A Dogecoin influencer has shared his thoughts on how the hack that occurred on the official X (formerly Twitter) account of the My Doge Wallet must have happened. Apparently, there is the possibility that the hack was done to prove a point.
Dogecoin Wallet Account Hack “Well Planned And Diabolically Timed”
In a post on his X (formerly Twitter) platform, Dogecoin influencer Mishaboar stated that the hack on MyDoge’s X account was “well planned and diabolically timed.” Regarding the timing, the influencer was referring to the fact that it occurred on Dogecoin’s anniversary. He believes that the hack was done to hijack this “special Dogecoin day.”
As to how it happened, Mishaboar noted that it was most likely a SIM-swap attack. If so, then it is similar to what happened to Ethereum’s co-founder Vitalik Buterin. Buterin lost his X account to hackers back in September, with him confirming later on that it happened as a result of a SIM swap attack.
After making his suspicions known, Mishaboar also used the opportunity to admonish the community on how to keep their account safe. He advised that they enable 2FA authentication on X using an authenticator application or a physical security key. He noted that this is even more crucial for accounts with a large following.
The community has the influencer to thank, as he was one of those who quickly warned others that MyDoge’s X account had been compromised at the time the hack occurred. The hackers had posted phishing links, which could have led to users’ wallets being drained.
These scams and hacks seem to be on the rise this period as Shiba Inu’s scam detector Susbarium had recently warned of impersonators and scammers in the community who are out to mislead users.
MyDoge X Account Restored
Alex, the Chief Technology Officer (CTO) of the My Doge Wallet, confirmed in an X post that the MyDoge X account has been restored. In a subsequent post, Alex also confirmed Mishaboar’s suspicions as he stated that his phone was SIM swapped. He admitted that 2FA was not enabled on the account as that would have “prevented the hack immediately.”
Meanwhile, just like he mentioned at the time the hack occurred, he reiterated that all user wallets and data were safe and that the hackers didn’t have access to any of these. According to him, the hackers can’t have access to such information as the company doesn’t have access to users’ funds since it is a self-custodial wallet.
DOGE begins recovery trend | Source: DOGEUSD on Tradingview.com