The best foundation you can ever build for yourself

[Davidvictorson]

Where you create your wallet, will ultimately determined if your funds are safe.
Telegram wallets, wallets downloaded outside the official website, wallets from random online stores, and similar sources all carry serious risks. People tend to know this and the dangers involved but it beats my imagination that they would rather ignore it and still put their money in the wallet.
You would think that this news will make other people aware of the dangers and take caution but it will not. We will still continue to read more stories like this.
There is so much information on wallet security on the internet most persons just ignore it.
If you are looking for information about wallet here is the board where it is discussed extensively.

[blockman]

I still don't understand people with so much holdings and assets in crypto and yet, they feel that it's too expensive to buy a hardware wallet. As we invest, it's also part of investing because it secures the assets that we own. With a couple of bucks that you can purchase for it and a variety of it, gives you peace of mind. It's sad that we keep seeing almost the same mistakes that teaches the victims a very expensive lesson. 

I know right, $50 hardware wallet would have avoided this but you know as they say when you make recommendations, you don't tell people that are privilege with web3 money what to do because they claim to know better than anyone. I know that dude, he is very popular on X, saw some of his posts and some projects he has work with and he is good at influencing, made good money from projects last bull run but I think been influencer get into some of their heads that they lose some basic. That money is as gone, there is no way he is getting that funds.

Most of these web3 guys are defi users that use smart contracts and wallet extensions, that's where they keep their coins and other valuable coins. These are the wallet scammers target and make them invoke transaction they know nothing about and within milli seconds, the coins are wipe out.  As long many institutions with billions worth of coins are never affected by practicing Cold storage, going offline will remain the got of storage.

That's ego in there and they think that they are better than anyone else. So that pride that's in there to know almost everything and they call themselves "web3/defi people" have put themselves at risk together with their funds. They're the actual targets of these scammers and hackers when they feel so confident and full of themselves, they'll never listen to simple advice that should have avoided these wallet suckers and drainers if they just obeyed. Since all of these advices are not for the greater gain of the concerned people but for their security.

[CageMabok]

...

A cold wallet is arguably the safest option for storing cryptocurrency. However, even with the most secure wallets, there’s no guarantee that users won’t lose their assets.
In my opinion, it all depends on the individual user and their knowledge of the wallet. While a wallet’s security relies on the user’s experience, the setup process must also be taken seriously—from installation through to securing the keys—and should never be overlooked or treated as trivial.

Besides the two points you mentioned, there's another thing to be wary of, or even avoid if it's not absolutely necessary for cold wallets: connecting them to specific platforms, which can generally compromise our personal wallets. While most airdrop players like to connect their wallets to specific websites for the purpose of earning rewards, there are also some who are already very familiar with protecting their cold wallets. When they resume their pursuit of airdrop coins, they often use an empty wallet to prevent unexpected risks.

[jcojci]

We can say a cold wallet is the safest option but we must know how to use it so we can save the asset. A good wallet without having enough knowledge is useless and that will not protect the asset from hackers. Users needs to know how to connecting to other sources with safely so they will not becomes the next target of the hackers. If they want to participate in the airdrop programs, they must separating the wallet from their main wallet so nothing bad happens.

[dezoel]

It's really not a shocker that we would see something like this, because we already knew that people are not good at figuring out how to make these changes, and they do not know how to protect their coins and we should not be shocked about any of this.

I understand that we are seeing this being something that would be very sensitive on the long run, but the reality is that we are seeing a lot of people learning as well, so I bet you that in the future we will hear less and less of these news.

[AprilioMP]

A cold wallet is arguably the safest option for storing cryptocurrency. However, even with the most secure wallets, there’s no guarantee that users won’t lose their assets.
In my opinion, it all depends on the individual user and their knowledge of the wallet. While a wallet’s security relies on the user’s experience, the setup process must also be taken seriously—from installation through to securing the keys—and should never be overlooked or treated as trivial.

Besides the two points you mentioned, there's another thing to be wary of, or even avoid if it's not absolutely necessary for cold wallets: connecting them to specific platforms, which can generally compromise our personal wallets. While most airdrop players like to connect their wallets to specific websites for the purpose of earning rewards, there are also some who are already very familiar with protecting their cold wallets. When they resume their pursuit of airdrop coins, they often use an empty wallet to prevent unexpected risks.

One thing to keep in mind is that wallets should never be linked to any websites or links. A cold wallet is an offline wallet that is not connected to the internet. This is precisely why cold wallets are considered a highly secure way to store assets.

Airdrop hunters should use a different wallet if a specific airdrop requires them to connect to their wallet, and this is important to note because we never know what might happen behind the scenes to the assets held in that wallet.

[Ruttoshi]

A naive person will always fall victim to scammers if he uses a hardware wallet or not because he isn't thinking of giving extra time to learn how to secure his wallet from hackers and his seed phrase can even be compromised because he can keep it carelessly.

Being your own bank comes with risk and you need to know how to limit that risk for the safety of your coins otherwise, you are only accumulating your coins for thieves.

Personally, I prefer setting up an electrum cold storage wallet than buying a hardware wallet which you don't know where it's coming from.