Dogecoin Scam Is Appearing On Twitter

Dogecoin (DOGE) holders have been warned by the “official Twitter page” that there is no customer support for the largest meme coin.

The official Dogecoin Twitter account has issued a warning about a new fraud that is circulating on the social media site.

Scammers pose as a tech support company for customers experiencing “difficulties, complaints, or challenges” with the currency meme. After contacting the bogus account, the user was duped into creating a phishing wallet that required them to submit a seed phrase in order to address their technical issues.

The official account has highlighted that users should never divulge their seed phrases or account information, which is still a basic guideline of cryptocurrency. Notably, the sham account in question was created all the way back in 2012 (before DOGE was even launched).

After the meme coin’s popularity skyrocketed in 2021, its owners, who were primarily novice speculators, became an easy target for fraudsters. There have been several Dogecoin forgeries that have turned out to be useless frauds.

According to CoinCu, cryptocurrency detective Elliptic has uncovered a significant spike in Dogecoin transactions associated with criminal operations on the dark web.

In June, Dogecoin co-founder Jackson Palmer went so far as to argue that cryptocurrencies enable fraud. Despite his criticism of people who have sought to speculate on the meme coin’s price swings, he does not believe it is a fraud. A Dogecoin buyer has launched a class-action lawsuit against Tesla CEO Elon Musk, accusing him of promoting the token.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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