Trust No One: Custodianship And The Importance Of Securing Digital Assets
summary
Exchanges hold private keys so counterparty risk leads to large losses and one early user lost seven BTC (~$60–70k) to a hack and then moves to offline keys. A catalogue-style retail site sells all Bitcoin.org certified hardware wallets and recommends MCU devices with independent screens, open source firmware and mandatory physical confirmation. Industry breaches total over a billion dollars and include Coincheck $534M yet the claim is that hardware wallets never been hacked and keep keys off the cloud.
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