Start assuming that you can get hacked at anytime

[serjent05]

It is always a good idea to use multiple separate holder for our holdings, especially if it is too big.  For example, if you have 1 BTC, keeping it in 10 separate air-gapped cold wallets (0.1 BTC each) will surely minimize the risk of hackers stealing all 1 BTC.  It might need a lot of effort, but if this effort can make sure that our holdings are more secure, then that effort worth it.

I agree that we should always observe the worst and prepare for the worst.  With this kind of mentality, we can be cautious and prepare thoroughly to prevent these hackers from accessing our precious BTC.  This action includes proper seed phrases and private key backups.

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.

Yeah, using a third-party hardware wallet today is not convenient for me anymore.  With the news of breaches and hacks, I'd rather use a correctly configured DIY air-gapped cold wallet to remove trust dependency on the manufacturer, like what a hardware wallet does.  

[Livingleged]

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.

I don’t get it, I’m trying to understand what people mean by the hack is pointing at a directions that isn’t reachable for any authority, not even the FBI. Is this how we gonna keep seeing more of this hack because the way it’s going now, there are possibilities of more hack with the introduction of AI technology. I don’t want to believe that there is a place in this world that is a dead zone and a no go area, and people hide there to commit fraud. Is there any thing I’m not understanding?

[Hamza2424]

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.

AI is a tool, bro, and North Korea is using it to find these vulnerabilities. They have made money in just 10 months that they probably made in the last 5 to 8 years because of AI. So AI is not to be blamed here. It's the people who are using it for bad purposes, but unfortunately, this rule is not applicable to other products that gave people freedom. Their bad use means the developers made them for that purpose, so they should be prosecuted.

Multisig is a must now, bro.

[Mrbluntzy]

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.

I can notI couldn't agree more. Right from time, experienced Bitcoiners and some other investment experts have always sound it as a warning that people should not keep all their asset in one storage. Some people might consider 0.2 Bitcoin too small to hold in different wallet because it contributes to extra task of protecting two seperate wallet, so they will prefer to hold such amount in one place.

If one is holding a large amount of asset, not just the 0.2 BTC, I recommend they also transfer some to a different wallet. Anyone that is being careless with their wallet security right now should already know what will happen to them. We have disused security in different thread lately and I really recommend multisig, it's not so difficult to learn and apply.

[uchegod-21]

There have always been crypto wallet hacks since crypto became known to hold value. However, in recent times, they seem to be becoming more rampant. News of hacks is emerging more frequently, and the question now is, "Which wallet or exchange is next?" This thought is concerning and can cause panic. But there are little steps we can take as individuals to protect some or all of our assets.

In addition to other security measures, this is when we should put the phrase "Do not put all your eggs in one basket" into practice. With all of this happening, I do not expect anyone to be comfortable keeping all their bitcoins in one wallet.

This is not intended to create panic, but simply to help people become aware and take precautionary measures so they do not lose everything in an unfortunate incident like this current hack.

[macson]

It's a good idea to split your assets, since we never know what might happen, and preparing for the worst is a wise move.

But even so, don't let this make you panic and act like the apocalypse is coming for Bitcoin tomorrow. Just follow the recommended security steps to safeguard your funds and don't click on random links. Your funds should be safe.

[Exitoral]

One thing I know for sure is to spread your Bitcoin across board. Depending on one wallet is dangerous now as it stands. You never might know which one is next.

So spread your coins across board. I prefer spreading across up to four boards. Even as you are doing that, make sure that you can recover them if something happens. Make sure your recovery keys are kept safe from preying eyes.

If the security is too complex, even you will find it difficult to access your own coins.

[Marykeller]

That's alright for us to know that nothing is truly safe in the crypto space again. At the same time, the life we live is not safe. Banks themselves fail. It's not a bad idea to always prepare head of time before losing everything at ones.

The advice to everyone this time around is never to keep all they have in one place. Learn to divide their crypto holdings into 3 parts. That is, not more than 20% in a reputable exchange, 60% will be in personal crypto wallet. And the remaining 20% will be off crypto completely. Saving dollars in a bank, or buying lands.

All these moves explained above are for people to prepare ahead of any crypto hack that will leave them with nothing that they won't have something to survive on for few years.

[Asuspawer09]

Are you going to all get in danger because of this hacking incidents? It just feels like the hackers are getting good at everything and soon enough they are going to maybe hack everything.

What I mean by that is maybe crack the code to this Bitcoin or Crypto? Is it possible to to reach that point? Because we know we already have AI this days and as technology advances we know that computers are increasing it's power as well, some old tech might just be too easy for some advance hackers out there.

It's a good idea to split most of the wallet, but is there a way to actually be safe at this point?

[Spaceman1000$]

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.

I kept on wondering why people keep referring to North Korea in this situation, is it that it has been established that North Korea were the ones that are responsible for the binance attack, because fingers are really pointing towards that direction. Multisig is the way to go , and we've been preaching that sermon for a long time coming, I wiil also advise you have multiple wallets, and spread your assets across your wallet, this is so that even though one mistakenly gets compromise, you will still be safe with the rest. I've even read somewhere that satoshi nakamoto's assets spread across different wallet.

[coinlary]

Obviously, does  anyone else need to be reminded that the best way to store your Bitcoins is by setting up a cold storage. Internet was never a safe place yet we have dumb peeps putting their seed in clouds storage ? Those ones are beyond saving and they will realise it Sooner or later.

Coldstorage doesn't mean  you're safe either; As an average user,  use a reputable wallet/Hardware wallet, you can do it right and still endup losing your Satoshis because you choose the wrong wallet to generate those seed.

[5W-KILO]

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.

Yes I read this news online too, the FBI did their diligent research and they found out that it's from North Korea, my question now is this, what is the world going to do about North Korea?

This can't keep going on, if they feel more untouchable every now and then they will always come back even stronger and hurt the world even more, what are they going to do about North Korea?

I have always believe that it's a made up story because North Korea should know that they will one day be targeted, they leave traces behind that ruins their name, why is that?

[Dr.Bitcoin_Strange]

does  anyone else need to be reminded that the best way to store your Bitcoins is by setting up a cold storage.

Yes, especially beginners. Most of them have always thought that centralized exchange is the safest place to store their coins and they had such believe because they don't have good knowledge about securing their Bitcoin. I have been there before, I also thought that exchange was the safest place and that it saves me the stress of holding private keys but instead I just have to remember my account password. It was this forum that gave me the enlightenment about security, so I believe there are some beginners who are not fully aware.

[bitLeap]

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.

I don’t get it, I’m trying to understand what people mean by the hack is pointing at a directions that isn’t reachable for any authority, not even the FBI. Is this how we gonna keep seeing more of this hack because the way it’s going now, there are possibilities of more hack with the introduction of AI technology. I don’t want to believe that there is a place in this world that is a dead zone and a no go area, and people hide there to commit fraud. Is there any thing I’m not understanding?

As we see today the funds go to groups funded by a country. I don't have to say it because everyone knows, the world either turns a blind eye or is there really something they fear for the country? what powers do they have? The US has always shied away when it comes to hacking that originated there. Imagine when the world knows who is the culprit but they do not dare to take the path of international law, proving how weak the superpowers today.

[Lontor]

This sounds like panic to me, it's going to get people more worried than preparing, I feel the topic isn't well put together, in the rush of trying to find something that is better anyone can make costly mistakes.

Readers should calm the hell down and not rush things out, do your own research and take things very slow, we aren't AI but humans and rushing in this type of cases is not safe.

Multisig is the best, followed by Passphrase, it adds extra security for your wallet but how you handle things from here and out is very important too.

[Sunshine1525]

I don’t get it, I’m trying to understand what people mean by the hack is pointing at a directions that isn’t reachable for any authority, not even the FBI. Is this how we gonna keep seeing more of this hack because the way it’s going now, there are possibilities of more hack with the introduction of AI technology. I don’t want to believe that there is a place in this world that is a dead zone and a no go area, and people hide there to commit fraud. Is there any thing I’m not understanding?

Exactly what I thought about when I came across this thread, other hackers would steal funds and go free cause all fingers would be  pointing at North Korea. I'm here wondering why nothing is done about the said hackers or are the authorities scared cause the said hackers are backed by a nuclear war head?

Something needs to be done else we might continue to see huge money scams tracing back to some North Korean group. Well everyone needs to be regularly updated on wallet security cause thats how we can individually be safe from hackers.

[Olamidetechie]

A passphrase adds another layer of protection, but losing or forgetting it can mean losing access to the funds. Multisig can reduce dependence on one key, although the setup and recovery process need to be understood properly.

[TedMosby]

Crypto hacks have really made headlines this year, and it seems they're not over yet. The rise of AI makes this happen faster and faster. It makes me wonder, are crypto exchanges, wallets, or other crypto service providers that offer a way to store users' crypto assets ever audited continuously using AI too? I am a vibe coder. Every time I fix a bug, I always ask AI to also tell me what else is wrong after the fix. And it's never completely fixed. AI always gives me feedback about new or possible bugs. I only stop when I run out of credits and believe it's a "minor" bug that humans will never notice or experience. I think all those service providers should have AI that continuously crawls their networks and services to find problems.

Also, with decentralized crypto wallets being hacked too, I wonder what people think now. Do you still see self custody as the safest way, like still believing in "not your keys, not your coins"? Because exchanges like Binance have been hacked a few times, but users' funds are still safe. That's something that wouldn't happen if you chose self custody.

[Filicius]

A passphrase adds another layer of protection, but losing or forgetting it can mean losing access to the funds. Multisig can reduce dependence on one key, although the setup and recovery process need to be understood properly.

Managing a passphrase and/or adding multisig adds complexity to your wallet setup, which can lead to mistakes if not handled carefully. That is why many of us have not yet opted for these security improvements, as most casual users don't want to complicate too much with the technical part, they simply want to always have their funds at hand. If safeguarding their own Bitcoin will cause them headaches, they will simply sell and stop hodling.

[hosemary]

Also, with decentralized crypto wallets being hacked too, I wonder what people think now. Do you still see self custody as the safest way, like still believing in "not your keys, not your coins"? Because exchanges like Binance have been hacked a few times, but users' funds are still safe. That's something that wouldn't happen if you chose self custody.

By decentralized wallet, you probably mean non-custodial wallets. We usually use the terms "custodial" and "non-custodial" when classifying wallets, not the terms "centralized" and "decentralized"

Anyway, there are various reasons why people prefer to hold their funds in their own non-custodial wallets rather than on exchanges.
Some prefer non-custodial wallets due to privacy reasons. Some prefer them becasue exchanges and other custodial services can freeze their funds at any time for any reason.

Also, there's no guarantee that people will still have access to their funds the next time an exchange gets hacked.