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New Dogecoin Scam Making Rounds on Twitter

Sun, 08/07/2022 - 09:25
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Alex Dovbnya
The holders of Dogecoin have been warned that there is no customer support for the largest meme coin
New Dogecoin Scam Making Rounds on Twitter
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The official Twitter account of the Dogecoin cryptocurrency has posted a warning about a new scam that is making the rounds on the social media platform.

Scammers pretend to be a tech support service for those who are having “difficulties, complaints or issues” with the meme coin.

After contacting the sham account, users are tricked into setting up a fraudulent wallet that asks them to enter their seed phrase in order to solve their tech problems.

The official Dogecoin account has stressed that users should never share their seed phrases or account information, which remains the cardinal rule of crypto.

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Notably, the sham account in question was created all the way back in 2012 (before Dogecoin was even launched).

After the meme coin experienced a massive surge in popularity in 2021, its holders, who are mostly inexperienced speculators, became an easy target for scammers.

There’s been a slew of Dogecoin knock-offs that ended up being worthless scams.   

As reported by U.Today, cryptocurrency sleuth Elliptic recently revealed that there had been a sharp increase in Dogecoin transactions linked to illegal activities on the dark web.   

In June, Dogecoin co-founder Jackson Palmer went as far as saying that cryptocurrencies are the facilitator of fraud. However, he doesn’t think that the meme coin itself is a scam despite being highly critical of those who have attempted to speculate on its price swings.

A Dogecoin buyer recently filed a class-action lawsuit against Tesla CEO Elon Musk that accuses him of promoting the token.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at