We've got to be really careful

[Ever-young]

People also hold even more than that amount in one wallet but what matters is the security measures you applied to securing that wallet sometimes I feel like those with even smaller holdings do take there security more serious as they consider the little very precious to them, being in separate wallet could have reduce the chance of losing it all.

No matter the figures of Bitcoin one have on their Bitcoin portfolio they must learn to secure their Bitcoin wallet because it contains a digital asset that has a higher potential of value in the future. However both a low coiner and a high coiner should secure their Bitcoin wallet for security reasons. Although both the high coiner that have a lot of Bitcoin on their portfolio will not afford to lose his Bitcoin in future. Despite the fact that Bitcoin might be low to them today and they do not secure their assets now, probably when Bitcoin will be higher than what they expected, they will hold on to it more.

I know everyone need to protect their wallet with the highest security if they can it’s not something of being told, but my statement is being dragged from the stories of those victims who have lost their holdings to scammers is usually those with fund of high value and not just under little hundreds, I no scammers will target the big fat pockets which is why they even need to be more careful on how they operate and secure their wallet.

[Cricktor]

No matter the figures of Bitcoin one have on their Bitcoin portfolio they must learn to secure their Bitcoin wallet because it contains a digital asset that has a higher potential of value in the future.

Why are you talking about Bitcoin in this thread. What you say is correct and surely applies to users who have Bitcoins.

This thread/topic is mostly about some Ethereum oder other smart contract shitcoinery. People loose coins or tokens when they don't understand what they approve with their smart contract stuff wallets.

~~~

If someone has badly secured "fat pockets" then there's something fundamentally wrong and I wonder how that someone was lucky to reach "fat pockets" in the first place.

[odunybiz]

People also hold even more than that amount in one wallet but what matters is the security measures you applied to securing that wallet sometimes I feel like those with even smaller holdings do take there security more serious as they consider the little very precious to them, being in separate wallet could have reduce the chance of losing it all.

No matter the figures of Bitcoin one have on their Bitcoin portfolio they must learn to secure their Bitcoin wallet because it contains a digital asset that has a higher potential of value in the future. However both a low coiner and a high coiner should secure their Bitcoin wallet for security reasons. Although both the high coiner that have a lot of Bitcoin on their portfolio will not afford to lose his Bitcoin in future. Despite the fact that Bitcoin might be low to them today and they do not secure their assets now, probably when Bitcoin will be higher than what they expected, they will hold on to it more.

I know everyone need to protect their wallet with the highest security if they can it’s not something of being told, but my statement is being dragged from the stories of those victims who have lost their holdings to scammers is usually those with fund of high value and not just under little hundreds, I no scammers will target the big fat pockets which is why they even need to be more careful on how they operate and secure their wallet.

One big aspect of cryptocurrency that most newbie don't look into is the wallet security and this is even more important than anything

[AmaGold70]

I don't know how reliable this story is but I think it's was very wrong for him to store that amount in one wallet, what ever happened to splitting it in different wallets just in case your wallet gets attack from Malmare?, you won't lose everything in your possession if you split your assets this way. Securing our wallets is one of the important thing to do because you would lose everything you have in any slightest mistake you make, the bigger wallets are always in target and most of these big wallet owner feel very reluctant and carefree when it comes to taking extra measure to secure their wallets.

[Pi-network314159]

Can't believe this story, to be honest. A person who has such big amounts won't store his funds only on a mobile wallet that is easily accessible. He must use a hardware wallet or a separate wallet that he doesn't use often. And it's pretty much a tough drain on the wallet just clicking a link without private keys or seed phrases. Only one possibility is a hacker would take control over the device through a click on the link. Overall, the story looks like it is not true to me.

even though the story may be fabricated or not, but the thing is that most guys are usually comfortable storing their major asset on a hot wallet as a result of laziness or being too confident. they usually prefer convenient than safety, and this is the more reason many fund are majorly pulled out from hot wallet than cold wallet. weather this is true or not, this is just an eye opener to many who prefer keeping their asset on hot wallet over cold storage. but if this story is true then the user clicked on a phishing link that got access to the wallet. we really need to be careful especially where we store our major asset. that's why Trezor and Nano ledger cold wallet is important to store our major asset.

[Alpha Marine]

I don't know how reliable this story is but I think it's was very wrong for him to store that amount in one wallet, what ever happened to splitting it in different wallets just in case your wallet gets attack from Malmare?, you won't lose everything in your possession if you split your assets this way. Securing our wallets is one of the important thing to do because you would lose everything you have in any slightest mistake you make, the bigger wallets are always in target and most of these big wallet owner feel very reluctant and carefree when it comes to taking extra measure to secure their wallets.

I don't think having such an amount in one wallet is a big deal. There are wallets that hold over $2 million, so having $800k in a wallet is not that big of a deal. The problem is not securing your wallet properly and staying within the security line. If he had not clicked malicious links, given malicious virus permission to do things they have no business with, he would have been fine.
Also, there's the probability that he exposed the content of his wallet or address to the public and which made him a target.
Holding a large amount on a particular wallet is not a bad thing per say.

[Mehmet69]

People also hold even more than that amount in one wallet but what matters is the security measures you applied to securing that wallet sometimes I feel like those with even smaller holdings do take there security more serious as they consider the little very precious to them, being in separate wallet could have reduce the chance of losing it all.

No matter the figures of Bitcoin one have on their Bitcoin portfolio they must learn to secure their Bitcoin wallet because it contains a digital asset that has a higher potential of value in the future. However both a low coiner and a high coiner should secure their Bitcoin wallet for security reasons. Although both the high coiner that have a lot of Bitcoin on their portfolio will not afford to lose his Bitcoin in future. Despite the fact that Bitcoin might be low to them today and they do not secure their assets now, probably when Bitcoin will be higher than what they expected, they will hold on to it more.

I know everyone need to protect their wallet with the highest security if they can it’s not something of being told, but my statement is being dragged from the stories of those victims who have lost their holdings to scammers is usually those with fund of high value and not just under little hundreds, I no scammers will target the big fat pockets which is why they even need to be more careful on how they operate and secure their wallet.

One big aspect of cryptocurrency that most newbie don't look into is the wallet security and this is even more important than anything

Yes, you are right. Nowadays, different types of wallets have come into the market. It becomes a little difficult for a newbie to understand which one is better. There are many investors who only invest. They have little idea about other things. Investors have no idea about scams. Most of the time, it is the M investors who lose money. Because they start using some exchanger just by hearing it from someone without checking. Later, they are the ones who lose money.

You will be a newbie. However, you must have proper knowledge about the exchanger before you start investing.

[MainIbem]

You will be a newbie. However, you must have proper knowledge about the exchanger before you start investing.

it's a foolish idea for one to save Cryptocurrency in an exchange, talking about investing, when it comes to Crypto investment the 1st coin that would come into any Cryptocurrency enthusiast's mind is Bitcoin and it's very risky to store it in an exchange, but rather a non-custodial wallet where you'll have full control of your asset, it's also safe from hackers, wallets like Electrum, Trust wallet, Meta Mask, and the rest of their kinds, exchanges are not very safe for investment cause they're custodial and regardless of some exchanges claiming that their wallets are very secured they can still be penetrated by hackers moreover the developers can still have access to your assets therefore it's best to invest with wallets that gives you full control of your assets, like the ones I mentioned earlier.

[SmartCharpa]

This isn't only about Twitter, where scammers are growing, anywhere money is involved, a scammer will always make a smart move, despite how you see yourself. I hope we can all learn from this, everyone could fall victim to these criminals, and we need to be careful with anything we see on the internet since they always come up with new ways to take advantage of people. I feel sorry for him, it would be hard for him to recover from losing such a huge money.

Furthermore, I still consider this as selfishness, you can't connect your savings wallet to Telegram, imagine Telegram being full of scammers, nothing good happens on Telegram, I wonder why he fell for the link he saw on Telegram, he had such money in his wallet, yet he is still using that same wallet to chase free money, instead of having a separate wallet for Telegram things.

[Su-asa]

I don't know how reliable this story is but I think it's was very wrong for him to store that amount in one wallet, what ever happened to splitting it in different wallets just in case your wallet gets attack from Malmare?, you won't lose everything in your possession if you split your assets this way. Securing our wallets is one of the important thing to do because you would lose everything you have in any slightest mistake you make, the bigger wallets are always in target and most of these big wallet owner feel very reluctant and carefree when it comes to taking extra measure to secure their wallets.

I don't think having such an amount in one wallet is a big deal. There are wallets that hold over $2 million, so having $800k in a wallet is not that big of a deal. The problem is not securing your wallet properly and staying within the security line. If he had not clicked malicious links, given malicious virus permission to do things they have no business with, he would have been fine.
Also, there's the probability that he exposed the content of his wallet or address to the public and which made him a target.
Holding a large amount on a particular wallet is not a bad thing per say.

Actually if it's difficult for one to secure his single wallet seed phrase, I think it will be more difficult for the person to secure multiple seed phrases. The important thing is securing your wallet and not separating the money on it, just like you have said already. Actually you are right cause many investors have crypto (Bitcoin) worth more than one million dollars.
What I am trying to say is that a single wallet will be easier to secure than multiple wallets.

[Youngrebel]

Fraudsters everywhere in the internet and everyone needs to be extremely careful as the tricks of the scammers most times looks so tempting. They make the offer look good for people to get attracted and click on the links.

[HajiBagi]

My concern is no longer about the truth of the story, but about how we safeguard the assets we have. We can't just use the old ways to protect our assets, we're getting smarter, and so are the thieves. Just look at how a CEX as big as Bybit got hacked, it's not an easy way, but the thieves managed to do it.

IMO, the easiest way to protect our assets is to separate the main wallet & the wallet we usually use to interact. That will make the chances of the thieves getting our assets smaller, besides, don't trust all links. Make sure the source of the link first.

What some people who are holding coins don’t understand is that they don’t know that we are living the life everyone should be careful and smart, no one is safe these days most especially those who are holding coins because they are people who the scammers are targeting very well, as a person who has an important thing in his wallet need to be smart and also avoid things that will lead to falling in the trap of the scammers.

Although no one is perfect and no one is above mistakes, some of us know what we should avoid to not get scammed but greediness will not allow us to avoid it, someone will never send me a link to click on it and I will do it, clicking link this day is very dangerous and once they get access to your wallet it over, there are many ways to protect our wallet but the best way to protect our wallets is to not click on any link and stop being greedy.

[MAAManda]

Although no one is perfect and no one is above mistakes, some of us know what we should avoid to not get scammed but greediness will not allow us to avoid it, someone will never send me a link to click on it and I will do it, clicking link this day is very dangerous and once they get access to your wallet it over, there are many ways to protect our wallet but the best way to protect our wallets is to not click on any link and stop being greedy.

If the assets are for long-term investment, then the best way is to store them in a cold wallet, there's potential for human error that could cause asset loss, but still, this is the best way.

The difficult thing is that we store it in a hot wallet which is for daily trading purposes, if so, then the best way to avoid hacking is to differentiate devices, 1 for trading & storing assets and not to open any social media, the other one for social media purposes to find the latest information etc.

[OcTradism]

If the assets are for long-term investment, then the best way is to store them in a cold wallet, there's potential for human error that could cause asset loss, but still, this is the best way.

Short term or long term, when you store your money, do it safely and securely. If you can not keep your money safely in short term, how will you be able keeping it safely and securely in long term?

Long term starts from today and with early days, it's short term so long term comes after short term and I hope that it is enough to eloborate importance of storage for both short term and long term very safely and securely.

I agree with you about cold wallets for storage your bitcoin and cryptocurrency.
[GUIDE] How to buy a Hardware Wallet the right way

The difficult thing is that we store it in a hot wallet which is for daily trading purposes, if so, then the best way to avoid hacking is to differentiate devices, 1 for trading & storing assets and not to open any social media, the other one for social media purposes to find the latest information etc.

It can be hacked and it is a biggest threat. Trading and losing money by trading is another thread but hack is more dangerous.

Reminder: do not keep your money in online accounts

[Saint-loup]

It's sad to see that if it's a real case, and it's not a good promotion for cryptocurrencies actually. I hope some companies will start to sell hardware wallets at very low price one day, to allow everyone to get confident another time to hold cryptos for whatever amount including small ones under $500 because I think people not knowing well cryptos don't want to be more curious and to invest into them when they see that.

[SuperBitMan]

I don't know how reliable this story is but I think it's was very wrong for him to store that amount in one wallet, what ever happened to splitting it in different wallets just in case your wallet gets attack from Malmare?, you won't lose everything in your possession if you split your assets this way. Securing our wallets is one of the important thing to do because you would lose everything you have in any slightest mistake you make, the bigger wallets are always in target and most of these big wallet owner feel very reluctant and carefree when it comes to taking extra measure to secure their wallets.

It is very good we protect our Bitcoin very well but this your idea of storing bitcoin in two different accounts can sometimes be stressful especially if you are still accumulating and holding Bitcoin for long term as an investor the only time it will be easy is when you have finished Accumulating and you just want to hold then you can have two wallet and then divide the Bitcoin into this two wallet and protect it.
One can still have just one wallet and nothing will happen some people don't secure there wallet account very well as soon as they open a wallet they start accumulating without probably taken all the necessary steps in securing there wallet and that is why they easily get attacked and again some people use the wallet they are using to accumulate Bitcoin and holding to do airdrop and connecting there wallet to those airdrop which is very bad because you are giving them access to your wallet if you are doing airdrop open a separate wallet for it.

[MainIbem]

I don't know how reliable this story is but I think it's was very wrong for him to store that amount in one wallet, what ever happened to splitting it in different wallets just in case your wallet gets attack from Malmare?, you won't lose everything in your possession if you split your assets this way. Securing our wallets is one of the important thing to do because you would lose everything you have in any slightest mistake you make, the bigger wallets are always in target and most of these big wallet owner feel very reluctant and carefree when it comes to taking extra measure to secure their wallets.

It is very good we protect our Bitcoin very well but this your idea of storing bitcoin in two different accounts can sometimes be stressful especially if you are still accumulating and holding Bitcoin for long term as an investor the only time it will be easy is when you have finished Accumulating and you just want to hold then you can have two wallet and then divide the Bitcoin into this two wallet and protect it.
One can still have just one wallet and nothing will happen some people don't secure there wallet account very well as soon as they open a wallet they start accumulating without probably taken all the necessary steps in securing there wallet and that is why they easily get attacked and again some people use the wallet they are using to accumulate Bitcoin and holding to do airdrop and connecting there wallet to those airdrop which is very bad because you are giving them access to your wallet if you are doing airdrop open a separate wallet for it.

Bitcoin is currently an asset a good one to rely on for that matter so It has to be protected at all cost, it's not all about accumulating it, making sure it's secured matters a lot else scammers or hackers would secure it from you, with that being said, where we save our coin matters a lot, it not really necessary that one must slip their Bitcoin into two different wallets for it to be safe, just one good wallet is enough to protect your coin, the most important thing is knowing the right wallet to use and also securing your seed phrase, if you slip it into different wrong wallet, like saving in exchanges then jokes on you cause you might still lose your coin to hackers.

[Awaklara]

Bitcoin is currently an asset a good one to rely on for that matter so It has to be protected at all cost, it's not all about accumulating it, making sure it's secured matters a lot else scammers or hackers would secure it from you, with that being said, where we save our coin matters a lot, it not really necessary that one must slip their Bitcoin into two different wallets for it to be safe, just one good wallet is enough to protect your coin, the most important thing is knowing the right wallet to use and also securing your seed phrase, if you slip it into different wrong wallet, like saving in exchanges then jokes on you cause you might still lose your coin to hackers.

All will depend on our knowledge in managing and storing the Bitcoin we have. The more we can understand anything about Bitcoin, the more careful we will be to store the Bitcoin we have. We can indeed use one wallet, the most important thing is that we need to know how to treat it to avoid hacking or any fraud. Some people use two or more wallets because they want to secure the assets stored with assets that are possible for those who often make transactions, such as traders on the exchange.

[RockBell]

I don't know how reliable this story is but I think it's was very wrong for him to store that amount in one wallet, what ever happened to splitting it in different wallets just in case your wallet gets attack from Malmare?, you won't lose everything in your possession if you split your assets this way. Securing our wallets is one of the important thing to do because you would lose everything you have in any slightest mistake you make, the bigger wallets are always in target and most of these big wallet owner feel very reluctant and carefree when it comes to taking extra measure to secure their wallets.

This is another brilliant idea not to lose everything Distributing your assets in more wallets saves you from a lot of dangers, because this is one of the reasons why people are always losing everything to scams but maybe they are scared that, because there are a lot of attacks going on in that circle and people are always sure that things might even get better but this is crypto and purpose is just to keep your assets save nothing more than that.

And this idea should be given to newbies at least, but the issue now will be how to manage the security of those accounts because some people are very careless, and we need to come up with ideas like this so that we are going to be able to manage how resources, because these guys are always in search of bit wallets and they are always falling victim of those guys because the moment you become a a target its only God that will help. the option given is good.

[BlackBoss_]

All will depend on our knowledge in managing and storing the Bitcoin we have. The more we can understand anything about Bitcoin, the more careful we will be to store the Bitcoin we have. We can indeed use one wallet, the most important thing is that we need to know how to treat it to avoid hacking or any fraud. Some people use two or more wallets because they want to secure the assets stored with assets that are possible for those who often make transactions, such as traders on the exchange.

You need to choose as best Bitcoin storage methods as possible since your start because if you lose all your capital and bitcoin after beginning, you will not have second chance or time for learning and improving your Bitcoin storage practice.

Do it right at start, and maintain it well with time.

Choose a wallet and don't forget to check wallet reviews (open source/ close source, hack history) with https://walletscrutiny.com/
[Guide] How to back up a wallet seed phrase?

Always bookmark and remember this Reminder: do not keep your money in online accounts.