Mishaboar’s warning relates to the imminent closure of Dogechain.info, a long-standing wallet platform. The platform, operational for over ten years, halted services in July 2024 following bankruptcy. Millions of users risk losing funds if they do not promptly retrieve private keys. A critical deadline looms, urging account holders to act without delay.

Dogechain.info, a well-known online wallet for Dogecoin users, has been a trusted platform for over ten years. However, after a sudden bankruptcy in mid-2024, users were left scrambling to find a way to secure their funds. The platform has now set a firm deadline of December 31, 2024, for users to download their private keys. Beyond this cutoff, wallets hosted on the site will become permanently inaccessible, leaving users with no means to recover funds.

Dogecoin developer behind the warning urged users to take immediate action to download their private keys through the site’s “Wallet Backup” feature. The post emphasized that once the shutdown is complete, no recovery options will be available for those who failed to secure their wallets.

Verify URLs: Secure Your Dogecoin Funds

As the deadline approaches, users are not only worried about losing access to their funds but are also facing a rise in scams targeting Dogecoin holders. The closure of Dogechain.info has created a prime opportunity for cybercriminals, and one of the most common scams involves phishing attacks using the look-alike domain “Dogechain.com.” These fraudulent sites are designed to trick users into revealing sensitive information, including private keys.

The Dogecoin developer reminds the community to be extra cautious during this time. He advised users to carefully verify website URLs and avoid clicking on any suspicious links, as these could be attempts to steal funds. “Double-checking the URL could make the difference between losing everything and securing your Dogecoin,” he wrote, stressing the importance of vigilance.

Mishandling or missing the deadline could result in irreversible financial losses. The Dogecoin developer noted that users encountering problems with two-factor authentication (2FA) codes should reach out to the platform’s official support team via the provided email address. However, he warned that contacting any unofficial support channels might expose users to scams. 

In a move to amplify the message, one user suggested that the warning be translated into multiple languages to ensure that non-English speaking Dogecoin holders are also informed. This call to action highlights the global nature of the Dogecoin community and the need for a widespread effort to protect as many users as possible from losing access to their funds.

Dogecoin Dev: Gamble Only What You Can Afford

While the Dogecoin developer focused much of his recent warnings on the Dogechain.info situation, he also shared broader insights on the risks of cryptocurrency investments. On June 16, 2024, Mishaboar warned that many newcomers to the crypto market underestimate the risks involved. “Cryptocurrencies are volatile and risky,” he wrote in an X post, advising investors to only gamble what they can afford to lose. 

This is a simple message, often repeated, and like many simple messages, easily forgotten,” Mishaboar stated. 

In addition to the risks posed by market volatility, Mishaboar pointed out that the crypto space is increasingly attracting scammers and malicious actors. He referenced a post by a fellow crypto community member, which discussed the growing influence of “grifters and criminals” within the market. These individuals exploit inexperienced investors, often using phishing scams and fake investment opportunities to defraud users.