This hacks sucks. But it's also a lesson about the risk of keeping assets on centralized exchanges.
Next time you see that juicy APR on Binance earn, think twice before going all in on that
This hacks sucks. But it's also a lesson about the risk of keeping assets on centralized exchanges.
Next time you see that juicy APR on Binance earn, think twice before going all in on that
I'd say, for a regular user, keeping assets in web3 wallets poses a much greater risk. Just needs a one bad signature or exposing wallet to drainer bot... my advice is to spread assets between multiple accounts & wallets.
I don't think the risk is comparable because users have much more control over the security of their assets on web3. But I do 100% agree that spreading assets is a good security measure
It really depends on what you do. If you never interact with dapps, keep your phrases offline, and never download anything on your computer, you should be fine. Still, I think most losses to users occur on web3.
That would be interesting to check. I doubt it. I think the losses are way more massive on CEX. Billions at once is hard to beat.
I could be wrong thou... not sure if there is reliable data about losses on web3 but I'll see if I can find something
Ran out of letters 😅 But was gonna add that sure, losses with these hacks are much bigger but losses to web3 users occur WAY more often but since only single user targeted, they rarely make headlines.
Yea thats true. WHich is why I think it will be hard to find reliable data on web3 losses
Exactly. I think very few report those cos there's zero chance of getting lost assets back. So IMO, far more dangerous for newbies. If CEX is compromised, you can still get funds back (like recently with FTX).
if CEX is attacked, user funds might still be safe but when a web3 user is attacked, it's game over.During my 7 years in crypto, I've been hacked 3 times, all on web3. Solely for safety reasons, I'd recommend CEXs for newbies to start with
Yea the first part is true actually.
But I'm adamant haha I wouild never recommend storing assets on CEX
My strategy: smaller amounts scattered between CEXs (for leverage trading mostly) and smaller amounts on Web3 wallets (for defi activities), long-term in a cold wallet.
Well noted lesson.
i read somewhere few minutes ago that the hacker burnt the hacked eth..
https://img.inleo.io/DQmSSt3xyLdXTDFZvfvZLRTUGjtne1uFwJ8a8mDPv84ydZw/image%20(4).webp