Reminder: With Great power comes Great responsibility

[Jubilee58]

If you are a Bitcoin investor, ensure that your investment is properly safe from scammers, and many investors are really experiencing this same thing loosing significant amount of Bitcoin to this online theft. Anyone can be vulnerable to this scammers regardless of weather you are new or you have long been in the system of investing in Bitcoin as many who looses their Bitcoin asset are not new to Bitcoin investing. Some investors like showing up or exposing themselves as huge Bitcoin holders, and when these scammers notice you, they will begin to send you deceptive messages in the form of introducing you to a more profitable business with your Bitcoin, many investors who are not careful enough don't use to escape it. We should learn to be quiet, and confidential with our investment, if we don't expose ourselves it is difficult to be vulnerable, scammers online won't notice you, but when you show yourself you actually become their prime target.

[Patikno]

If you are a Bitcoin investor, ensure that your investment is properly safe from scammers, and many investors are really experiencing this same thing loosing significant amount of Bitcoin to this online theft. Anyone can be vulnerable to this scammers regardless of weather you are new or you have long been in the system of investing in Bitcoin as many who looses their Bitcoin asset are not new to Bitcoin investing. Some investors like showing up or exposing themselves as huge Bitcoin holders, and when these scammers notice you, they will begin to send you deceptive messages in the form of introducing you to a more profitable business with your Bitcoin, many investors who are not careful enough don't use to escape it. We should learn to be quiet, and confidential with our investment, if we don't expose ourselves it is difficult to be vulnerable, scammers online won't notice you, but when you show yourself you actually become their prime target.

It is not just Bitcoin investors who must safeguard their money with extreme caution; but this applies to all types of investors. Whether in Bitcoin, other cryptocurrencies, or sectors entirely outside the crypto space. Money is a powerful force that profoundly impacts our lives, which is precisely why scammers covet it so intensely. Therefore, do not easily fall into their traps; instead, maintain a healthy skepticism toward everything you encounter. Never take your money for granted, or underestimating its value could make you the next victim. I do not mean to scare anyone, but that is the reality.

Scammers make no distinction between long-time experienced investor investors, or seasoned veterans; their only goal is to catch you off guard, and find you being careless. So, let me remind you once more: be skeptical of any information you receive, and always verify the truth of everything, so that you do not get trapped.

[Obari]

source

So yesterday, ZachXBT revealed that a victim lost over $282M due to social engineering scam and just recently there was an address poisoning scam that cost a victim $50M and this reasons made me towards writing this post..the saying With great power comes great responsibility is something we all ought to consider in this space.

Bitcoin gives you the power to become your own bank, you now have power over your money and coins and then on the other side you are now fully responsible for the security of your money and coin, it is 100% your responsibility and you need to take them.

Recently scammers have been targeting people with huge amounts of coins in their possession with their various method, we all need to be very cautious and aware of this Social engineering scams, phishing scam and Address poisoning attack..we should protect over investment ourselves, nobody is coming to save you! You have the power, then take the responsibility.

Decentralization comes with a lot of responsibilities and most times, we might not just be ready for the things we ask for and people also forget the fact that, we are solely responsible for whatever happens on our wallets and a lot of us neglect these safety and security concerns when they are raised.
But I still wonder what someone with $50m in a single wallet is still looking for that made him got scam rather than focusing on how to secure his wealth and possibly make more ?
One major reason I always attribute to people been scammed is greed and as a result, I don't want to believe that someone who already invested over $50m in crypto should be greedy even if it's possible

[Doll2233]

They actually do that's why immediately you start making some bread, you have to start protecting it with everything possibly, when there's nothing to protect, scammers won't come your way. Money is anything that has value so it could be anything. If you don't have Bitcoin, you aren't getting scammed for tBitcoin so if you don't have money you won't be bothered. Scammers don't like wasting their time so if you're their target then they're already expecting to make the efforts they put into their scamming worth it. Protecting yourself is quite easy from this scammers irrespective of how they want to go about things, just be self aware and consider everything a scam then be cautious when approaching things online be it links, chats, emails etc.

Scammers never feel any responsibility because they wants free money for having this always ready to go enough in many cases they done which was never been actual plan because they are having mindset and its encourage them for staying on their target and never give once they are having idea about their victim its always give them energy to go ahead and break all barriers for taking this.
Scammers are always use their time and energy for having their targets because their negativity never allow them to have things which are also possible to achieve with positive mind great power is surely about about responsibility but its also never been easy to understand because peoples are always want to stay ahead and also have more then others just try to understand all things related to security because only staying on good secure system prevent from these things to anyone.

[Sonia_123]

There was no perfect security has lead to a huge loss, securing an hardware wallet comes with a very huge responsibility, some persons feels since it's hardware does not needs too much protection of the seed phrase, they are %100 secured but that is the beginning of the lost of their investment  because

They can easily be hacked since they run on codes that contains bugs.because when one fail to generate a proper random numbers it make the recovery seed of the wallet easily predicted which will now give room for remote attackers to brute force and strike by draining your account, either by fireware or memory bugs.

It becomes vulnerable through many attack by vector targeting the user, also a fake device can cause attack, when it's fake the attackers must have gotten access to the hardware before getting to the users.

[sunsilk]

They can easily be hacked since they run on codes that contains bugs.because when one fail to generate a proper random numbers it make the recovery seed of the wallet easily predicted which will now give room for remote attackers to brute force and strike by draining your account, either by fireware or memory bugs.

Before, this can be unlikely but after the incident that we've seen with cold card then everything is now possible and can happen.

In technical terms, this is unlikely from reading in that point of view of being an experienced holder.

But right now, just take everything with a grain of salt and potential risk can occur almost everywhere as long as it can be attacked and done by hackers.

[knowngunman]

Before, this can be unlikely but after the incident that we've seen with cold card then everything is now possible and can happen.

In technical terms, this is unlikely from reading in that point of view of being an experienced holder.

But right now, just take everything with a grain of salt and potential risk can occur almost everywhere as long as it can be attacked and done by hackers.

Honestly, things are becoming very complicated keeping our coins safe with latest developments. We initially assumed that using cold storage is safer and once you've gotten a hardware wallet, you are good and free from losing your coin but the ColdCard and now ledger is a prove that everything is now possible. The attackers are getting smarter everyday coming up with new techniques. As a holder, the stress of being sure your assets are safe is getting higher.

[Obiavelliii]

If you are a Bitcoin investor, ensure that your investment is properly safe from scammers, and many investors are really experiencing this same thing loosing significant amount of Bitcoin to this online theft. Anyone can be vulnerable to this scammers regardless of weather you are new or you have long been in the system of investing in Bitcoin as many who looses their Bitcoin asset are not new to Bitcoin investing. Some investors like showing up or exposing themselves as huge Bitcoin holders, and when these scammers notice you, they will begin to send you deceptive messages in the form of introducing you to a more profitable business with your Bitcoin, many investors who are not careful enough don't use to escape it. We should learn to be quiet, and confidential with our investment, if we don't expose ourselves it is difficult to be vulnerable, scammers online won't notice you, but when you show yourself you actually become their prime target.

I don't think exposing yourself or talking about your Bitcoin investment changes anything about the fact you can be hacked or scammed, basically as the OP said with great power (Bitcoin) comes great responsibility (making sure your Bitcoin is safe).

[L E G E N D A R Y]

Honestly, things are becoming very complicated keeping our coins safe with latest developments. We initially assumed that using cold storage is safer and once you've gotten a hardware wallet, you are good and free from losing your coin but the ColdCard and now ledger is a prove that everything is now possible. The attackers are getting smarter everyday coming up with new techniques. As a holder, the stress of being sure your assets are safe is getting higher.

The uncomfortable truth is that even though a hardware wallet reduces certain risks, it still doesn’t guarantee a 100% safety because it doesn’t eliminate every way someone can lose their bitcoin. Device security is only one aspect of self custody, after that, there’s also protecting your seed phrase, verifying transactions, and trying as much as possible to avoid fake updates or phishing attempts, these are equally other important aspects of self custody. The goal isn’t to find a wallet that promises a perfect security, but rather to understand the risks and keep some mechanisms in place to help you reduce the chances of making that single mistake that’ll cost you your years of hard work.

[Supreme Donvic]

Honestly, things are becoming very complicated keeping our coins safe with latest developments. We initially assumed that using cold storage is safer and once you've gotten a hardware wallet, you are good and free from losing your coin but the ColdCard and now ledger is a prove that everything is now possible. The attackers are getting smarter everyday coming up with new techniques. As a holder, the stress of being sure your assets are safe is getting higher.

The goal isn’t to find a wallet that promises a perfect security, but rather to understand the risks and keep some mechanisms in place to help you reduce the chances of making that single mistake that’ll cost you your years of hard work.

True, even if you see a wallet that has very good security you still need to make sure that you protect and keep your seed phrase safe, just like you said the goal is not to find a wallet that promise or has perfect security, rather the goal is for you to avoid certain mistakes that will make you lose access to your wallet.
If you can succeed in avoiding others from having access to your wallet then you have actually succeeded in protecting your Bitcoin, the best security is the one you give to yourself and not the ones other people promise or gives to you.


~Supreme

[L E G E N D A R Y]

True, even if you see a wallet that has very good security you still need to make sure that you protect and keep your seed phrase safe, just like you said the goal is not to find a wallet that promise or has perfect security, rather the goal is for you to avoid certain mistakes that will make you lose access to your wallet.
If you can succeed in avoiding others from having access to your wallet then you have actually succeeded in protecting your Bitcoin, the best security is the one you give to yourself and not the ones other people promise or gives to you.

Even with the most secure hardware wallet, one careless mistake from a user could put their Bitcoin at risk. And that’s protecting one’s private keys is just as important as choosing the right storage device or method. It doesn’t matter the storage method you’re using, how sophisticated or secure it is, the moment someone is able to get their hands on your recovery phrases, it’s game over because you’ll definitely lose everything, so just as it’s crucial to understand how to store them, we should also try as much as possible to learn about ways scammers are able to steal people’s phrases and then avoid them.

[pawanjain]

Even with the most secure hardware wallet, one careless mistake from a user could put their Bitcoin at risk. And that’s protecting one’s private keys is just as important as choosing the right storage device or method. It doesn’t matter the storage method you’re using, how sophisticated or secure it is, the moment someone is able to get their hands on your recovery phrases, it’s game over because you’ll definitely lose everything, so just as it’s crucial to understand how to store them, we should also try as much as possible to learn about ways scammers are able to steal people’s phrases and then avoid them.

True that. I think the type of storage method we use and our privacy techniques we use, both go hand in hand.
Security and privacy should be in sync in order to stay away from losing money in such scams.
Sometimes, it's just the rookie mistakes we make that ends up in huge losses and honestly speaking that's what hurts the most.

[L E G E N D A R Y]

True that. I think the type of storage method we use and our privacy techniques we use, both go hand in hand.
Security and privacy should be in sync in order to stay away from losing money in such scams.
Sometimes, it's just the rookie mistakes we make that ends up in huge losses and honestly speaking that's what hurts the most.

A lot of losses have happened in the past simply because people overlooked very small details when it comes to wallet security. Even with a wallet with maximum security mechanism, one could still be exposed to security breach if they engage in poor privacy practices. And that’s why it’s crucial for users to take their time to really understand both concepts rather than just relying on one, that is understanding how to protect their bitcoin and how to keep their personal information safe.

[Cossyblack]

If you can succeed in avoiding others from having access to your wallet then you have actually succeeded in protecting your Bitcoin, the best security is the one you give to yourself and not the ones other people promise or gives to you.

In addition, while you hide your seedphrases so that others can't see it, you need to also ensure that where you hide it is in a fire proof location incase of accidental fire. You have not yet secure your seedphrases until you have ensure that its out of reach from both fire and water.  If where you kept it is in a safe, then you have to make sure that the safe is both fire and water proof otherwise if there is a fire outbreak or flood in the location, your seed phrase might get burnt or soaked in water.

[hafiztalha]

If you can succeed in avoiding others from having access to your wallet then you have actually succeeded in protecting your Bitcoin, the best security is the one you give to yourself and not the ones other people promise or gives to you.

In addition, while you hide your seedphrases so that others can't see it, you need to also ensure that where you hide it is in a fire proof location incase of accidental fire. You have not yet secure your seedphrases until you have ensure that its out of reach from both fire and water.  If where you kept it is in a safe, then you have to make sure that the safe is both fire and water proof otherwise if there is a fire outbreak or flood in the location, your seed phrase might get burnt or soaked in water.

In the last few months I read enough about the security of seed phrases because it's also important for having your bitcoin secure without doing this. Many already face enough losses because they were not doing anything about the security of this and face consequences. Having 2 or 3 copies is always recommended, but still how to secure it is also not easy because of many factors, which are increasing problems.
Metal is always good because it has enough potential to stay long. Writing on this surely works much better, for I also really love to do this because now I am feeling better and also have no problem due to a few factors, which are always having unrest in mind. Here are a few things that can help much better.
https://coinmarketcap.com/academy/article/how-to-protect-your-seed-phrase

[Hazink]

Honestly, things are becoming very complicated keeping our coins safe with latest developments. We initially assumed that using cold storage is safer and once you've gotten a hardware wallet, you are good and free from losing your coin but the ColdCard and now ledger is a prove that everything is now possible. The attackers are getting smarter everyday coming up with new techniques. As a holder, the stress of being sure your assets are safe is getting higher.

Things are not really that complicated. A hardware wallet doesn't mean you can't get hit if it's constantly connected to a device that has uncontrollable access to the internet. The chances it can get compromised are also there. 

For the coldcard and ledger wallets that recently got affected, one was as a result of weak entropy and the other was a distributor's issue. Those incidents just send a message to hardware wallet users to either try to know which dealer you are buying from or what pattern was used to generate your wallet key.