The administrators of Doge Vault, a popular online wallet for the Dogecoin cryptocurrency, say the site has been the subject of a massive hack.

According to TheCryptoCurrencyTimes, the thieves may have stolen at least 111 million Dogecoins, worth approximately $50,000.

Doge prices are down 1% to $0.000454.

The site's been shut down and replaced with the following statement:



On the 11th of May, the Doge Vault online wallet service was compromised by attackers, resulting in a service disruption and tampering with wallet funds.

As soon as the administrator of Doge Vault was alerted, the service was halted. The attackers had already accessed and destroyed all data on the hosted virtual machines.

We are currently in the process of identifying the extent of the attack and potential impact on user's funds.

This involves salvaging existing wallet data from an off-site backup. We will also closely be investigating potential attack vectors, and determining the security breach which enabled the attacker's to compromise the service.

Please do not transfer any funds to Doge Vault addresses while our investigation is under way.

Thank you for your patience - we will issue an additional statement including our findings and plan of action within the next 24-48 hours.

Many in the Dogecoin community prides themselves on their friendliness and relative lack of profit-seeking compared with the wider Bitcoin community. One anonymous Tweeter has been donating huge sums of Dogecoin in San Francisco to bring attention to income disparities there.

So the is likely to shake the community up a bit.