Dogecoin

Secure

POPCAT

Phantom

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
A prominent voice in the<a href="https://u.today/550-million-dogecoin-doge-in-20-minutes-something-is-brewing" rel="noopener noreferrer nofollow">Dogecoin (DOGE)</a> community, known by the nickname "Mishaboar," has recently issued an important security advisory. While DOGE has seen a huge spike of over 145% in the last 10 days, reaching $0.40 per coin with a market cap of $59.19 billion, the timing of this warning could not be more critical. His advice was not just for<a href="https://u.today/dogecoin-foundation-were-working-hard-on-this-important-project" rel="noopener noreferrer nofollow">Dogecoin</a> holders but for the broader cryptocurrency community as well, as he pointed out some security issues with the popular Phantom wallet.
As it turns out, the latest update to the Phantom wallet has caused some users to lose access to their digital assets. The software, which was originally designed for Solana but now also supports Bitcoin (BTC) and Ethereum (ETH), is popular among meme traders. However, the latest update has caused some major setbacks for users.
<blockquote class="twitter-tweet">
 A coworker of mine just lost 360k USD worth of some crazy monkey money and "stable"coins— Mishaboar (@mishaboar) <a href="https://twitter.com/mishaboar/status/1856774240701165735?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 13, 2024</a>
</blockquote>
According to some reports, the update can delete a user's seed phrase if it is not saved, which can lead to a loss of access. In one notable case, the founder of a Solana-based project reportedly lost $1 million in POPCAT tokens due to this issue.
<h2 dir="ltr" id="secure-your-bags-yourself">Secure your bags yourself</h2>
Mishaboar advised users of the Phantom wallet to take immediate action, starting with backing up their seed phrases to ensure future access.
Instead of keeping large crypto holdings in a smartphone wallet, users should turn to cold wallets or offline storage, which is much more secure, the<a href="https://u.today/525-million-doge-in-20-hours-whats-happening" rel="noopener noreferrer nofollow">DOGE</a> influencer said, as this warning is not just for Phantom users and applies to anyone who uses a smartphone wallet.
The advice was aimed at Phantom wallet users, but it is a good reminder for the entire digital asset community. As prices rise and more people become interested in the market, such a statement underscores the need for better security practices by encouraging crypto owners to take active steps to protect their assets. <a href="https://u.today/dogecoin-lead-sounds-alarm-amid-145-doge-price-surge" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Dogecoin Lead Sounds Alarm Amid 145% DOGE Price Surge

Table of Contents

U_Today

Other articles published on Nov 14, 2024

Bitcoin’s Soaring Price, Pro-Crypto Election Wins, and a Promising Future: Key Highlights from To...

TRON picks up momentum while this new DeFi token skyrockets

Gary Gensler’s Crypto Regulation Stance Under Trump’s Potential Leadership

Shiba Inu Burn Rate Jumps 1000%! Big Rally Predicted for SHIB and Rollblock

Bybit and DMCC Hackathon Pitch Day: Watch the Future of Web3 Unfold in Dubai (14 Nov)

Ethereum Whale Activity Skyrockets — Will Prices Follow?

Join our free newsletter for daily crypto updates!