There’s a story going around about a guy who lost $3m worth of crypto from a cold wallet hack (likely a soft one, I didn’t get the details) and has no idea when he could’ve exposed his keys. Unfortunately, this was his and his wife’s retirement money as they’re an older couple.
This is a stark reminder to have multiple cold wallets, especially when you got a big bag. If I had $3m in coin, it would be split up into 5 cold wallets bare minimum.
Interesting, and this is something I wrote about a day ago. How are we sure it's not one of their relative or children that got access to the wallet. Preserving crypto legacy is not an easy thing to do.
indeed. This is a fact
That's a tough lesson. Splitting funds across multiple cold wallets is a must for big amounts. I'd also add regular security audits and using different storage methods to minimize risk. Diversification isn't just for investments.
Yes. And great point w/ the regular audits. Definitely overlooked
Spot on about audits being overlooked. They're a game-changer for catching vulnerabilities early. Also, rotating keys periodically can add another layer of protection, especially for large holdings like that
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