Foundation Dev Issues Stern Warning as Dogecoin Prices Soar

Member of the Dogecoin Foundation and Twitter personality Misha Boar warned his followers to remove their money from “dogechain dot info,” citing the rise in cryptocurrency-related phishing scams. Boar cited a recent phishing email to illustrate the widespread spread of these schemes. The developer affirmed that the.info domain is the official DogeChain website and added,

“The.com domain has been involved in scam/phishing attempts.”

Several rules on how to withdraw funds from centralized exchanges have been written by a core developer at the Dogecoin Foundation. Dogecoin owners are advised to store their digital assets in a physically distributed wallet as opposed to trusting a single industry giant. This provides an additional safeguard, but also increases the urgency of finding a reliable method to store private keys and seed phrases. For it, Boar recommended to have at least three “good-working backups.”

DOGE Regains Ground on Back of Two-Week, Double-Digit Run

DOGE rode the wave of optimism following the Bitcoin ETF announcement two weeks ago. With a 24-hour gain of 4.20%, DOGE is now trading at $0.073585, just below its monthly high of $0.074 reached on October 26.

IntoTheBlock, a blockchain analytics firm, reports that the top DOGE whales have shifted the on-chain concentration of huge bets to a bullish orientation. The crypto community as a whole is feeling bullish as a result, with professional traders predicting a 50% run using the Fibonacci retracement technique. Dogecoin (DOGE) would need to be worth more than $0.06846 following a market correction for this to occur.

The Importance of This

Without relying on the internet, cold storage devices give owners full authority over their cryptocurrency holdings.