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Dogecoin wallet taken offline following possible 111M Dogecoin theft

updated 02:19 pm EDT, Tue May 13, 2014

User accounts of Doge Vault reportedly emptied before server outage

A website that offered storage for the Dogecoin cryptocurrency has gone offline, after an intrusion was detected and the loss of funds from accounts. Dogecoins were apparently disappearing from user wallets stored on Doge Vault, being transferred to another location, in what could be considered the biggest theft of the cryptocurrency in its relatively short lifetime.

The server was shutdown on the 11th of May after it discovered "tampering with wallet funds." A statement from Doge Vault notes the attackers "had already accessed and destroyed all data on the hosted virtual machines" by the time an administrator was alerted. The site is now attempting to discover how damaging the attack was to its users, as well as salvaging existing wallet data from an off-site backup. Doge Vault warns Dogecoin users not to transfer any funds to Doge Vault addresses, and it will be providing another statement about the intrusion soon.




One user apparently lost 950,000 Dogecoin ($437) from their wallet before the site went offline, reports the Cryptocurrency Times. Other users are also reporting losses before the shutdown, which could be a sign of a wider attack on all accounts on the service. Currency was transferred to another Dogecoin wallet, which contained approximately 111 million Dogecoin ($51,000) and linked to another that held 2.6 million Dogecoin ($1,200), though it is unclear if the funds in these wallets stem from the intrusion.

This is not the first time Dogecoin has been subject to attacks. A hack of Dogewallet in December saw an estimated 21 million Dogecoins being stolen, at the time worth $12,000. By comparison, major Bitcoin exchange Mt. Gox lost approximately 750,000 customer-owned Bitcoins and 100,000 in a multi-year breach, with the hack estimated to have lost Bitcoins worth an estimated $450 million as of March 1st.



By Electronista Staff
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