Spread the words out there

[5W-KILO]

You can get the best hardware wallet in crypto space, completely airgapped and still lost all your Bitcoin and crypto assets.

Self Custody has a weakness.

That weakness is YOU

The weakest link in Self Custody isn't the wallet itself but the person using it.


Many people keeps going for the best options available and still ended losing their coins, the victim who lost $300M days ago is using a Trezor wallet, and still got destroyed through social engineering attack.

People knows that crypto wallets have private keys and recovery seeds but they failed to take them very seriously like their lives depends on it.

Private keys can't be repaired, because they are never faulty.

If anyone is trying to confuse you to drop your private keys for your own sake they are trying to fool you, even if they claimed to be part of the team of that same hardware wallet that you are using. Private keys, Recovery seeds, they are not meant to be shared even with the team of your hardware wallets.

Seed phrases don't need supports
They don't need any fixes.
Not Ever.

[retaur]

Self custody is the safest solution if you know what you're doing. Multisigs with multiple devices are usually the strongest way to keep your assets safe (especially if they're different OSes or mix hardware or airgapping with online machines).

[I_Anime]

You can get the best hardware wallet in crypto space, completely airgapped and still lost all your Bitcoin and crypto assets.

Self Custody has a weakness.

That weakness is YOU

The weakest link in Self Custody isn't the wallet itself but the person using it.


Many people keeps going for the best options available and still ended losing their coins, the victim who lost $300M days ago is using a Trezor wallet, and still got destroyed through social engineering attack.

People knows that crypto wallets have private keys and recovery seeds but they failed to take them very seriously like their lives depends on it.

Private keys can't be repaired, because they are never faulty.

If anyone is trying to confuse you to drop your private keys for your own sake they are trying to fool you, even if they claimed to be part of the team of that same hardware wallet that you are using. Private keys, Recovery seeds, they are not meant to be shared even with the team of your hardware wallets.

Seed phrases don't need supports
They don't need any fixes.
Not Ever.

That’s why no wallet can be 100% safe , because when you are careless as the owner or user of a particular noncustodial wallet , you have already increased the chances of losing your assets because any wrong move towards that wallet will lead to loss of assets. Like being careless with your private key or seed phrases , because even in scenarios where you wrote your seed phrases on piece of paper , it doesn’t mean is safe from physical attacks.

[nakamura12]

That’s why no wallet can be 100% safe , because when you are careless as the owner or user of a particular noncustodial wallet , you have already increased the chances of losing your assets because any wrong move towards that wallet will lead to loss of assets. Like being careless with your private key or seed phrases , because even in scenarios where you wrote your seed phrases on piece of paper , it doesn’t mean is safe from physical attacks.

I agree with this. Even a hardware wallet can be emptied by scammers or hackers as long as the owner is careless. In my opinion, the security of the wallet depends on the owner even if it is a non-custody wallet as long as the owner is not careful then the funds in that wallet can be taken by the scammer/hacker. I think that's the reason why others hold or keep their funds in a custody wallet or an exchange platform for safekeeping when it's really not the recommended way of storing crypto funds.

[Cryptohygenic]

You can get the best hardware wallet in crypto space, completely airgapped and still lost all your Bitcoin and crypto assets.

Self Custody has a weakness.

That weakness is YOU

The weakest link in Self Custody isn't the wallet itself but the person using it.

You are right, the right that is stated in self custody is a "right" means you're in best position to govern your Wallets securities and if keeping your funds safe is a prior to you.
You're definitely a basic to your wallet securities because how you handles your seed phrase matters first then we can talk about using the air gapped hardware wallets to enhance wallets security since it is a technology that is programed to keep storage offline.
But never forget, hardware malfunctioning could also be a threat to the potential risks of having our bitcoin and cryptocurrency safe at our self custodial.

[SilverCryptoBullet]

You can get the best hardware wallet in crypto space, completely airgapped and still lost all your Bitcoin and crypto assets.

Self Custody has a weakness.

That weakness is YOU

The weakest link in Self Custody isn't the wallet itself but the person using it.

Be your own custodian is better than relying on other people or any company to be custodians of your coins. If you are not your own custodian, these coins strictly said are not your coins because you don't own private keys, and don't have access to these coins by yourself.

The custodians like centralized exchanges or online platforms own private keys and own your coins.

Be custodian means people must be fully responsible with their device and wallet security.
How to back up a seed phrase.
Not your keys, not your coins.

[Zaguru12]

I think that's the reason why others hold or keep their funds in a custody wallet or an exchange platform for safekeeping when it's really not the recommended way of storing crypto funds.

It is just other people’s way of not taking responsibility by themselves that they shy away from and actually go ahead to store their funds on exchanges. No matter how we put it I just don’t agree with it as I consider that more careless than any careless self custodian. For me bitcoin has actually provided the platform for self custody and it’s the best security out there and If you’re actually not going be treating that way I don’t see the new for you to actually use bitcoin on centralized entities because the risk is just growing high everyday

[Rashlyowl]

In crypto, we can't trust anyone but ourselves, not our children, not our wives or husbands, not even our parents. Crypto criminals have thousands of ways to trap us with all the technological advancements today.

Don't trust, verify!

I couldn't believe what I saw on the news, it was a wallet with millions of dollars in it & then the owner was easily socially engineered, doesn't he understand that when it comes to crypto, there will be no connection with customer support or anything like that, except storing assets on a centralized platform.

Many people keeps going for the best options available and still ended losing their coins, the victim who lost $300M days ago is using a Trezor wallet, and still got destroyed through social engineering attack.

For anyone who wants to see the full report regarding what bros @5W-KILO said, you can see it on Cointelegraph.

[livingfree]

You're right, the weakness isn't really in the wallet but is in us. But, that's being responsible if you've chosen the right hardware wallet.

That's the start of being responsible but bad things really happen when something just slipped into our hands.

And that's what happened to those owners who's got hardware wallets and due to their negligence have lost everything.

[nakamura12]

You're right, the weakness isn't really in the wallet but is in us. But, that's being responsible if you've chosen the right hardware wallet.

That's the start of being responsible but bad things really happen when something just slipped into our hands.

And that's what happened to those owners who's got hardware wallets and due to their negligence have lost everything.

One thing I checked is that the target was an elderly so I think it's also the other reason why the victim fall into the trap which the person who emptied the wallet posed as a trezor support and tricked into revealing the seed phrase. The thing that happened also support the saying "not your keys not your coins" which explains why the wallet emptied when the seed phrase is revealed to another person either a family member, friends, relatives, scammers, hackers or actors pretending to be someone.

[Japinat]

Failure and losses shouldn't be all blamed to the kind of wallet the owner has. Its the accountability of the owner itself that holds the future of the coins in the wallet, not the type of wallet itself.

I believe all wallets aim to protect the owner at its utmost, because if they can't be trustable at first, then they should have gone in the market earlier. But the problem is mostly seen on the irresponsibility of the owner, that's why if you aren't ready to hold your coins and protect it at all cost, then never decide to buy and hold coins at the very beginning.

[AVE5]

That’s why no wallet can be 100% safe , because when you are careless as the owner or user of a particular noncustodial wallet , you have already increased the chances of losing your assets because any wrong move towards that wallet will lead to loss of assets. Like being careless with your private key or seed phrases , because even in scenarios where you wrote your seed phrases on piece of paper , it doesn’t mean is safe from physical attacks.

Obviously no perspective of crypto wallet storage is 100% safe if we must talk about the potential risks surrounding the risk to loose your wallet security.
Perhaps the risks may be your bound to leak your secret keys or seed phrase and as well loosing to scammers out of lack of proper knowledge about keeping your privacy safe and the risk that highlights unprotected device and the connectivity with malicious malwares and links.
The object where you wrote down your seed phrase may not be an ultimate to keep your funds secured but how private you stored it matters but it's sure that storing seed phrase offline is recommended best.

[Alone055]

Isn't that the case with everything? If you know how to handle something properly, it doesn't matter if that thing is handleable or not, you will still manage to do it because you know everything about it. That's the power of knowledge, which most newbies don't take seriously in this industry. Their basic goal is to make a lot of money from cryptocurrencies, and with that goal in mind, they ignore everything else that can actually help them achieve at least something in this market or industry, they don't pay attention to the safety of their funds, they barely care about how the market is doing currently, but all they care about is how they can make money, which is unfortunate.

People need to understand the importance of knowledge, only then they are going to realize that the safety of their funds is not about whether they are using a hardware wallet or not, it depends on how careful they are with their funds and whether they are smart enough to avoid things that could possibly get their wallet compromised. If you are keeping your funds in a non-custodial wallet in a device where you do all sorts of things, you open links, download stuff, install apps and software without verifying their authenticity, then you should blame yourself if you lose your funds all of a sudden.

[Kavelj22]

Self custody is the safest solution if you know what you're doing. Multisigs with multiple devices are usually the strongest way to keep your assets safe (especially if they're different OSes or mix hardware or airgapping with online machines).

Unfortunately, this isn't accessible to everyone, including experienced users. I can guess with certainty that most hardware wallet users lack the necessary security measures and how to use correctly their devices. People still behave in crypto with a banking mindset, absolving themselves of responsibility for protecting their assets or know how to manage their savings. They either buy hardware wallets without to know how to use them effectively, or they deposit their funds in centralized platforms or other centralized applications like web-wallets or third-part wallets.

[Stalker22]

This isnt a hard and fast rule; however, it does tend to be the case that typical scams go after the elderly or those who are not very tech-savvy as these scam artists may believe that they can more easily manipulate these groups into trusting them due to their lack of understanding of the processes such as "recovery seeds."  This reinforces the belief that the greatest vulnerability in the cryptocurrency ecosystem lies within the human element as opposed to flaws within the cryptocurrency coding or systems themselves.  Therefore, we must absolutely make better efforts to protect our elderly members!

[uchegod-21]

That’s why no wallet can be 100% safe , because when you are careless as the owner or user of a particular noncustodial wallet , you have already increased the chances of losing your assets because any wrong move towards that wallet will lead to loss of assets. Like being careless with your private key or seed phrases , because even in scenarios where you wrote your seed phrases on piece of paper , it doesn’t mean is safe from physical attacks.

I agree with this. Even a hardware wallet can be emptied by scammers or hackers as long as the owner is careless. In my opinion, the security of the wallet depends on the owner even if it is a non-custody wallet as long as the owner is not careful then the funds in that wallet can be taken by the scammer/hacker. I think that's the reason why others hold or keep their funds in a custody wallet or an exchange platform for safekeeping when it's really not the recommended way of storing crypto funds.

Despite this weakness, self custody still remains unmatched. Even exchanges and thind party platforms are not safe from hacks. The stories about major exchange hacks are all there for us to read. For self custody, the bitcoiner just needs to be well educated about major bitcoin risks and how to avoid them. He should know that he is not supposed to give out important information about his wallet to anyone.  Carelessness can be costly.  If he knows what he is doing, then there is nothing to worry about.

[Awaklara]

If anyone is trying to confuse you to drop your private keys for your own sake they are trying to fool you, even if they claimed to be part of the team of that same hardware wallet that you are using. Private keys, Recovery seeds, they are not meant to be shared even with the team of your hardware wallets.

This knowledge should be possessed by every user who stores Bitcoin. Previously, someone had shared information about scam emails from individuals claiming to be part of a wallet product team.
This scam method is not actually new, but it is important to always remind every new user. Many communities on social media, be careful when asking about a difficulty in a group. There will be some messages from other users who seem generous, offering free help. But their real intention is to drain all the contents of your wallet.

[dzungmobile]

This knowledge should be possessed by every user who stores Bitcoin. Previously, someone had shared information about scam emails from individuals claiming to be part of a wallet product team.
This scam method is not actually new, but it is important to always remind every new user. Many communities on social media, be careful when asking about a difficulty in a group. There will be some messages from other users who seem generous, offering free help. But their real intention is to drain all the contents of your wallet.

If you are contacted for product updates, software updates, whatever things related to your wallets, money and accounts, you must be very careful.

You will have to check that information further at an official site of that brand company, on its official social media channels. It's necessary checking to confirm the information you initially received either in email or anyway. The email address must be checked and you must pay attention on its later part for domain, if it is not similar to a company website's domain, it's a red flag of highly likely scam and phishing.

Generally, always acts like "Don't trust, verify."

[Razmirraz]

That’s why no wallet can be 100% safe , because when you are careless as the owner or user of a particular noncustodial wallet , you have already increased the chances of losing your assets because any wrong move towards that wallet will lead to loss of assets. Like being careless with your private key or seed phrases , because even in scenarios where you wrote your seed phrases on piece of paper , it doesn’t mean is safe from physical attacks.

I agree with this. Even a hardware wallet can be emptied by scammers or hackers as long as the owner is careless. In my opinion, the security of the wallet depends on the owner even if it is a non-custody wallet as long as the owner is not careful then the funds in that wallet can be taken by the scammer/hacker. I think that's the reason why others hold or keep their funds in a custody wallet or an exchange platform for safekeeping when it's really not the recommended way of storing crypto funds.

Yes, the security level of a wallet depends on its owner whether it is a hardware wallet or a non-custodial wallet. So it is very important for anyone who has a wallet to always be careful and prioritize good security practices. While custodial wallets or exchange platforms may offer better security (depending on the individual's perspective), I wouldn't recommend storing assets there, as it all depends on your individual risk tolerance. In my opinion, one of the basic principles for maintaining the security of crypto assets is to have full control over them, keep the seed phrase secure, and not tell anyone about the assets.

[m2017]

You can get the best hardware wallet in crypto space, completely airgapped and still lost all your Bitcoin and crypto assets.

Because hardware wallet is just a tool for achieving security, the controller of which remains a person.

Self Custody has a weakness.

That weakness is YOU

The weakest link in Self Custody isn't the wallet itself but the person using it.

Therefore, it is not enough to simply buy a wallet; you also need to learn to “use your head” (recognize and critically evaluate attempts to fool you).

Many people keeps going for the best options available and still ended losing their coins, the victim who lost $300M days ago is using a Trezor wallet, and still got destroyed through social engineering attack.

I should have included a link to this story here.

Keeping $300M in one wallet? That's incredibly reckless and risky, as this story demonstrates.

People knows that crypto wallets have private keys and recovery seeds but they failed to take them very seriously like their lives depends on it.

People's lives don't depend on private keys, only their financial status. Don't exaggerate.

Private keys can't be repaired, because they are never faulty.

What if this is recorded incorrectly or the saved electronic file is damaged?

Private keys, Recovery seeds, they are not meant to be shared even with the team of your hardware wallets.

And most importantly - with wife.