Prominent Dogecoin developer Mishaboar recently posted an urgent security advisory for holders of the popular meme-inspired cryptocurrency.

In a tweet thread, Mishaboar warned about an email circulating that encourages users to withdraw funds from dogechain.info, a long-running Dogecoin online wallet provider.

While confirming the email is legitimate, Mishaboar cautioned users to manually type dogechain.info into their browser rather than clicking any links to avoid potential phishing scams. The developer noted the .com version of the domain has been linked to past fraud attempts.

For users locked out of their wallets due to two-factor authentication issues, Mishaboar advised contacting Dogechain’s developers at block.io for account recovery assistance. However, lost passwords cannot be recovered, given that they encrypt users’ wallets.

Above all, Mishaboar stressed that cryptocurrencies should never be stored long-term on online wallets, even if encrypted. Such wallets can be hacked, go rogue, or suffer security breaches.

Instead, the developer strongly recommended using self-custodial wallets where users control their private keys. Backing up wallet seed phrases offline was also emphasized as a best practice.

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The abrupt warning highlights how even well-established services like Dogechain carry risks. While web wallets provide convenience, holding one’s own private keys in a self-hosted wallet better guarantees security.

Heeding calls from respected community developers like Mishaboar to take precautions allows Dogecoin users to enjoy the project’s lighthearted ethos while still protecting their holdings.

The post Dogecoin Developer Issues Warning To DOGE Community About Online Wallet Risks appeared first on CaptainAltcoin.

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