Start assuming that you can get hacked at anytime

[5W-KILO]

This is a quick reminder that nothing is truly 100% safe in crypto space

If you have 0.2 BTC
It's not wrong to split them into two separate cold storage, airgapped devices.

Starting to assume that you can get hacked is unfortunately now the beginning of wisdom in this crypto space today.
Don't sit back and feel safe because your crypto wallet isn't touched, yet.

AI and North Korea are going to keep taking the blames even though the incident is something that can be investigated, since it's North Korea everyone will move on immediately without the need to investigate.

It's time to consider using Passphrase on your recovery seeds or even consider Multisig.
There is no better solution that I can think about than these.

[freedomgo]

I think it's a good idea, if we compare it with how we safeguard our money in banks, we make sure that we don't just deposit in one bank, we divide our money if we have a lot and deposit it in different banks and even in different locations to ensure that if something happens to one bank, we still have others that are not affected.

I think what happened recently really serves as a lesson although we are not victims yet but we can learn how to minimize the risk.

good advice from OP

[lovesmayfamilis]

It seems that instead of advice, you are creating topics that can be considered panic. Shouldn't the holder monitor the news, in particular about the places where he holds his assets? But by creating panic with texts like "do this or that soon, or it will be too late" (I see a second similar topic), a person can create even more mistakes, worrying that an "apocalypse" of his funds is about to happen. Initially, you need to be prepared that there is nothing permanent in the world, and in all kinds of critical situations, have a clear mind to carefully check all the information and stay calm, improving the security of your funds if it has not been at the highest level before.

[Nwada001]

AI and North Korea are going to keep taking the blames even though the incident is something that can be investigated, since it's North Korea everyone will move on immediately without the need to investigate.

They still investigate if there is no investigation done. How will they come up with the evidence pointing fingers at the Lazarus group? The only difference is that nobody is trying to chase those hackers to their hide place because the said location of the hackers appears to be a dead end.

It's time to consider using Passphrase on your recovery seeds or even consider Multisig.
There is no better solution that I can think about than these.

While trying to figure out the best way to secure your wallet, also have it at the back of your mind that a complicated setting can get you locked out of your holdings forever.

[EL MOHA]

This is a quick reminder that nothing is truly 100% safe in crypto space

If you have 0.2 BTC
It's not wrong to split them into two separate cold storage, airgapped devices.

Not a bad a reminder but I do think that everything or all your advices here can actually be very easily posted in one of many of your newly created threads.

I can say that almost every member of this forum might have come across this advice before, split your coins, use cold wallet and most importantly nothing is guaranteed saved even our lives can be gone any moment from now.

The actual question should be since this hack reports what have one learnt from it to help better their coins safety and have they actually implemented the lesson because that’s where the major problem is coming from.


OP I strongly believe you should merge this to your previous created threads as this has been discussed before

[DPHOR]

The security nowadays is becoming something else as we know that one can't truly predict when he could be hacked or not. And even the so called exchange that was hacked weren't ready for it as they don't know whether there were people working underway just to make sure they see being hacked. If they knew they could have done everything possible just to make sure that they didn't succeed brute forcing themselves into exchange to hack them.
Yes, the multisig address is the Best alternative because that it could be hard for funds to be stolen from there without the approval of the rest.

[Joy_learns_crypto]

It seems that instead of advice, you are creating topics that can be considered panic. Shouldn't the holder monitor the news, in particular about the places where he holds his assets? But by creating panic with texts like "do this or that soon, or it will be too late" (I see a second similar topic), a person can create even more mistakes, worrying that an "apocalypse" of his funds is about to happen. Initially, you need to be prepared that there is nothing permanent in the world, and in all kinds of critical situations, have a clear mind to carefully check all the information and stay calm, improving the security of your funds if it has not been at the highest level before.

Panic can even cause a person to become even more vulnerable than ever, now post people who are adhering to security measures would think that they haven't been hit not because of the security work they put in but because they haven't yet been targeted.
You could be doing the right thing and that right thing is keeping you safe but you aren't aware because you haven't been successful hit.

To anyone panicking don't neglect the security work you are already on, don't take your wallet to anyone for further security measures, this is the time most scammers that goes after indecisive holders.

[Faisal2202]

AI and North Korea are going to keep taking the blames even though the incident is something that can be investigated, since it's North Korea everyone will move on immediately without the need to investigate.

I don't think it's true, but I also had this question. Even if the authorities could trace it back to North Korea, why wouldn't they take any action against them? Just because they have nukes and could nuke everyone if they were investigated? I wonder what it would mean for crypto if North Korea didn't have nukes. Would things be the same for them as they are with Iran?

Their leader has recently made a big announcement about advancing their technological efforts in drone warfare. They are on the other side of the world but somehow manage to observe everything and have some of the best hackers who can steal billions. Now they are working on AI-powered drones to improve their combat capabilities in war.

It's terrifying. I keep seeing the war between Ukraine and Russia, and I can't imagine what people in both countries must be going through. I want all of this to stop for the world, but I guess war has become a powerful business for world leaders now.

[Maslate]

This is what you call..

https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch13_security.adoc

Diversifying Risk
Would you carry your entire net worth in cash in your wallet? Most people would consider that reckless, yet Bitcoin users often keep all their bitcoins using a single wallet application. Instead, users should spread the risk among multiple and diverse Bitcoin applications. Prudent users will keep only a small fraction, perhaps less than 5%, of their bitcoins in an online or mobile wallet as "pocket change." The rest should be split between a few different storage mechanisms, such as a desktop wallet and offline (cold storage).

I believe that is from the book of Mastering Bitcoin, correct me if I'm wrong.

That is the right way to deal with your precious bitcoins, even exchanges don't keep everything in one wallet alone, but the reason they get hacked for such big amounts is because they are holding a lot of bitcoins, it's part of their operations and therefore they are more exposed than us. at this point, it's better to take preventive measures, as recovering stolen bitcoins is almost impossible.

[General_Bitcoin]

a complicated setting can get you locked out of your holdings forever

This is a real threat to many people. Two things to consider:
Multisig: Keep your wallet descriptor (or xpubs) with your backups. For example, if you only have two seeds for a 2-of-3 multisig then you might not be able to recreate your wallet as you also need the third xpub.
Passphrase: This should be kept separate to your seed. Try to recover small amount of funds to make sure you can.
You wont be secure without being able to recover your setup.

[Don Pedro Dinero]

If you have 0.2 BTC
It's not wrong to split them into two separate cold storage, airgapped devices.

It's not wrong but it doesn't make sense in many cases, for example, if your total net worth is 5 million dollars. What makes sense is to have them split in different addresses not linked between them but again, I think high net wort individuals won't care. Everyone needs to consider their own particular situation, and as they accumulate more bitcoin, they should step up their security measures.

[Ziskinberg]

Having many wallets might be inconvenient especially if you have big holdings, but if we consider what could potentially happen, I think we wouldn't be lazy about doing it, as it's only for our own future.

There's no specific amount that can be considered big since we have different financial situations, but for me, if I own just 1 BTC that is already a big amount for me, so I guess I wouldn't be lazy about dividing it into different wallets from different manufacturers if that could help me sleep at night with peace of mind. And one thing, it's not only about dividing bitcoin, keeping the wallets in different locations could also help minimize the risk, of course as long as they are secured there and you don't forget where you placed them. 

[The Cryptovator]

If you have 0.2 BTC
It's not wrong to split them into two separate cold storage, airgapped devices.

Starting to assume that you can get hacked is unfortunately now the beginning of wisdom in this crypto space today.
Don't sit back and feel safe because your crypto wallet isn't touched, yet.

It's time to consider using Passphrase on your recovery seeds or even consider Multisig.
There is no better solution that I can think about than these.

I have two hardware wallets; one is Ledger, and the other is Trezor. I have split my funds between these two companies' wallets. But due to the closed-source Ledger, I kept fewer funds there. But after the incident I don’t like to use Ledger anymore, even though my device wasn’t affected at all.

I know nothing is 100% safe in crypto, as we have encountered so many incidents recently. So as much as possible, we have to think about our funds' security. Maltisig would be good to reduce the risk but a bit harassing. I am still depending on the Trezor, though some funds still exist on the Ledger. Looking for a better hardware wallet and may choose one in the near future.

[gwestcot]

This is a quick reminder that nothing is truly 100% safe in crypto space

If you have 0.2 BTC
It's not wrong to split them into two separate cold storage, airgapped devices.

Starting to assume that you can get hacked is unfortunately now the beginning of wisdom in this crypto space today.
Don't sit back and feel safe because your crypto wallet isn't touched, yet.

AI and North Korea are going to keep taking the blames even though the incident is something that can be investigated, since it's North Korea everyone will move on immediately without the need to investigate.

It's time to consider using Passphrase on your recovery seeds or even consider Multisig.
There is no better solution that I can think about than these.

Covenants and secure vaults with cell phone alerts and time-delayed transactions out of the vaults are a necessity. If, per chance, a week-long delay for a tx were set, along with other security measures, then you would have time to secure your life savings in a non-compromised wallet/address.

[Filicius]

It seems that instead of advice, you are creating topics that can be considered panic. Shouldn't the holder monitor the news, in particular about the places where he holds his assets? But by creating panic with texts like "do this or that soon, or it will be too late" (I see a second similar topic), a person can create even more mistakes, worrying that an "apocalypse" of his funds is about to happen. Initially, you need to be prepared that there is nothing permanent in the world, and in all kinds of critical situations, have a clear mind to carefully check all the information and stay calm, improving the security of your funds if it has not been at the highest level before.

With the streak we have of news of vulnerabilities, attacks and thefts such as those of Coldcard, cryptobilis and now even Binance, which is even talked about in the mainstream media in my country, it's normal for people to become more cautious. In any case, it never hurts to warn people not to assume false expectations regarding the safety of their funds, and maybe a little scaremongering today will save someone's funds in the future.

[salad daging]

That's right nothing is safe even if it is in your coin cold wallet.

Storing on exchanges, they are hackable such as Binance, Bybit and Bitget.
Storing in cold wallets, Coldcards and ledgers became a terrible case, in addition Trezor experienced chips that were infiltrated even though there were no victims.
Saving on hot wallets, like Electrum slot RBF's there have been cases where someone lost 0,85 BTC recently recently.

There is no safe haven, you guys need to be able to do it your own way, or split across multiple wallets that's probably good, my own coins are still on one hardware.

[Lucius]

~snip~
I know nothing is 100% safe in crypto, as we have encountered so many incidents recently. So as much as possible, we have to think about our funds' security. Maltisig would be good to reduce the risk but a bit harassing. I am still depending on the Trezor, though some funds still exist on the Ledger. Looking for a better hardware wallet and may choose one in the near future.

Trezor is not a bad choice with the option to additionally protect the seed with a passphrase, but my opinion is that it should not be used by people who store coins of higher value on it. Any hardware wallet that connects online is simply no longer secure for me, so you should look for air-gapped devices or, even better, create an air-gapped wallet using an old computer.

It should be emphasized that what AI is doing today is just the beginning, and further development of this technology will result in major threats to all online systems. We can assume that today there is a human behind most of the procedures performed by AI, but experts agree that at some point AI will become so advanced that it will start working for itself - and when it realizes that money is power, I have no doubt that it will seek money in hacking all systems that store the private keys of cryptocurrencies.

[SquirrelJulietGarden]

This is a quick reminder that nothing is truly 100% safe in crypto space

If you have 0.2 BTC
It's not wrong to split them into two separate cold storage, airgapped devices.

It's time to consider using Passphrase on your recovery seeds or even consider Multisig.
There is no better solution that I can think about than these.

Split your bitcoin fund to different wallets is recommended. You need to create your wallets rightly, back them up properly and store backups safely and offline.
Chance of losing all wallets which you have and store at different locations is very small so this practice minimizes risk of losing your fund entirely.

How to manage your bitcoin like a whale? has a lot of good advice.

Create and back up wallet advice but don't do seed splitting. Back up each wallet completely, keep it simple.
How to back up a seed phrase?
Why is seed splitting a bad idea?

[kingstep]

AI and North Korea are going to keep taking the blames even though the incident is something that can be investigated, since it's North Korea everyone will move on immediately without the need to investigate.

Hackers can come from any part of the world. today the suspected nationality of the hackers is pointing to north Korea and tomorrow, it might be somewhere else. what we should consider is the vulnerability that allows them to break into the security system of their target. it is not just that you can be hacked, it is that all financial institution should tighten their security. if this can happen to exchanges, i don't even see bank as being safe because an hacker that can breakdown binance, bybit and bitget can get through banks if they make it their target.

[bitLeap]

Starting to assume that you can get hacked is unfortunately now the beginning of wisdom in this crypto space today.
Don't sit back and feel safe because your crypto wallet isn't touched, yet.

AI and North Korea are going to keep taking the blames even though the incident is something that can be investigated, since it's North Korea everyone will move on immediately without the need to investigate.

The hack ended up in the same place where no one could touch it, not even the FBI. Having an isolated wallet is a priority for a lot of people from now on and it's possible that hackers are taking a break and letting the situation subside, when everyone feels safe, assuming the threat has passed that's when the attacks come back.