Coldcard mess made me admit self-custody isn’t the flex we thought it was
Coldcard mess made me admit self-custody isn’t the flex we thought it was
Been holding my own keys since 2019, never had an incident. Then the Coldcard hack happens, and the wallet did nothing wrong from a literal “did I get phished” standpoint. The device never touched the internet, the seed never left it, and people still got drained because the randomness was broken at the firmware level five years ago. You can do everything right and still lose everything because of a bug you had zero way to detect…
This could’ve been any of us holding a device from that batch. It’s just made me rethink the whole “not your keys, not your coins” as a universal safety upgrade. Turns out “your keys” also means “your problem when the entropy is broken, and nobody tells you for 5 years.”
Been slowly moving a chunk over to Kraken and Nexo, mostly because, at this point, I’d rather have the custody risk sit with someone who has to answer to regulators and get audited than with a firmware team I have no visibility into.
Not saying go full CEX, still keeping some self-custody, just not treating it like it’s automatically the safer choice anymore. I’m not trying to tell anyone what to do with their crypto, just talking it out loud
All of them have firmware from the internet.
Get a ETF such as IBIT or GBTC or CEX such as Coinbase. Let the experts guard your cryptocurrency and trades
Let the security experts protect your assets. Not to mention being wrench tortured, dying without a heirloom to pass on or the most important thing a simple beneficiary list with no charge such as a will or trust.
yeah this is the part that gets me too, you can do literally everything right and still get rekt by a bug you had zero way to audit yourself