Dogecoin Developer Warns Community Against Fake 'Official' Representatives and Risky Financial Products

Dogecoin developer Mishaboar issued a critical warning to the community via X on November 10, 2025, cautioning users about an increasing number of entities falsely claiming to represent official Dogecoin initiatives. He emphasized that no single individual or company can speak or act on behalf of Dogecoin, as it remains a decentralized, community-driven project.

Mishaboar highlighted specific financial products being promoted by centralized providers, including proposed Dogecoin treasuries, ETF-style vehicles, and yield-based lending programs. These offerings are not endorsed by Dogecoin's core contributors and pose significant risks, such as counterparty exposure and loss of asset custody. He described them as risky IOUs, where users surrender their DOGE for promises that could lead to substantial losses if the entities collapse.

In his post, Mishaboar stated, "Dear Dogecoin, once again: there is no 'official' organization or person representing Dogecoin. Nobody and nothing can 'officially' represent Dogecoin. Any product pushed by somebody claiming to be 'officially' representing Dogecoin is something you should stay away from." He urged holders to verify information through trusted community channels and avoid greed traps or emotional appeals promising easy returns.

Amid the warning, Dogecoin's price saw a modest surge, trading at $0.1830 with a 4.89% increase in 24 hours and a 31.33% rise in volume to $2.01 billion, partly driven by broader market optimism around ETF filings and U.S. government developments. Mishaboar plans to share further guidance on self-custody best practices to help users safeguard their assets.