After Bitcoin investor and entrepreneur, Michael Terpin sued AT&T, a United States based international telecommunications company, for $224 million; Dogecoin (DOGE) founder, Jackson Palmer has stepped forward, articulating his viewpoints versus SIM hacking and also calling it a “horrible thing”.
Michael Terpin’s loss has startled cryptocurrency traders like Palmer. Palmer articulated his opinion on Twitter via an array of tweets. Talking about SIM hacking, he tweeted: “I clearly feel sorry for the people that get hacked via SIM hacking, it’s a dreadful thing that I rejoice is getting eyes on it. At the same time, actually utilize cryptocurrency as meant would alleviate these strikes completely.”
Dogecoin creator concerns trusting centralized exchanges with cryptocurrencies
Citing Terpin’s loss, the creator of Dogecoin specified that the event is a ‘dig’ at the crypto owners who turn over centralized exchanges with their cryptocurrencies that are worth as long as $24 million. Cryptocurrencies are expected to maintain central exchanges at bay as cryptocurrency owners are supposed to be their “very own financial institution, without any centralized party holding your keys”.
His tweet stated: “^ this isn’t a dig at cryptocurrency, it’s a dig at anyone who keeps $24M well worth of cryptocurrency on a central exchange, defeating the entire objective of claimed cryptocurrency.”
Palmer mentioned that it is unexpected that cryptocurrency millionaires are suffering through very same modern technology. “… but you have to appreciate the paradox of cryptocurrency millionaires falling prey to something that the innovation they advocate for inherently aims to address,” Palmer tweeted.
Message for Telecom service providers
Palmer sent words of suggestions for the telecommunications company. Urging network service providers “to get their act with each other”, he likewise inquired to “quit supporting TEXT 2FA”.