Binance founder CZ recommends diversifying holdings across multiple wallets following a $70M Coldcard hardware wallet exploit.
Security & Exploits ·
Binance founder CZ has advised cryptocurrency users to spread their holdings across multiple wallets in response to a $70 million exploit affecting Coldcard hardware wallets, which exposed risks in single-device custodial setups. The recommendation underscores vulnerabilities in hardware wallet security that concentrating assets in one device can create. Details about the exploit's mechanics, affected users, and whether funds were recovered remain unclear from the available reporting.