Bitcoin Alternative’s Storage Service In The Doghouse After Christmas Day Hack

Dogewallet, a storage entity for yet another Bitcoin alternative called Dogecoin confirmed today a hack that cost owners of the currency thousands of dollars. The moral of the story is that your virtual money is never as safe as you would like it to be. Dogewallet reported the hack changed the delivery path for all deposits over a period of time so that they would all go to the nefarious account holder.

The glimmer of festive light here is that Dogecoin is only valued at about $0.00059 per coin and the total damage done is estimated to be just over $12,000. Had this type of hack in some way hit Bitcoin owners whose coins are worth about $700 each, the damage could have left a whole lot of people with coal in their Bitcoin accounts. In the spirit of holiday cheer Dogewallet is promising to pay back users who accounts were affected. Affected users should send Dogewallet a private message via Reddit.