Key management is crucial to Bitcoin maintaining decentralization. But, as hacks and exploits have grown in number, the dream of self-custody has become more difficult to maintain.
Crypto for Advisors: Unlocking Crypto Custody
As a financial advisor, it is crucial to understand that there is no one-size-fits-all approach to crypto custody. Instead, the most suitable solution depends on your client’s specific needs, goals, and risk appetite.
How to backup your crypto wallet private keys
To securely backup your crypto wallet private keys, create an encrypted offline copy on a hardware wallet or write them on paper.
Founder of Estonia’s LHV Bank Lost Access to $472M of Ether
“It’s no secret that I have a wallet with 250,000 Ethereum units,” Lõhmus said in an interview with Estonian national radio channel Vikerraadio in late October.
Ledger hardware wallet rolls out cloud-based private key recovery tool
Ledger emphasized that the ID checks required for its private key recovery tool are not like KYC checks as they require “much less” information.
CoinEx hack: Compromised private keys led to $70M theft
CoinEx confirms that compromised private keys gave hackers access to hot wallets, leading to a $70 million hack.
Brazilian crypto streamer loses $50K by accidentally exposing private key
The risks of cryptocurrency self-custody are real and should not be underestimated, as the private key can be stolen, destroyed or lost.
Ledger releases white paper for hardware wallet seed recovery tool
Despite facing notable criticism over the Ledger seed recovery tool, the hardware crypto wallet firm expects to launch the Ledger Recover tool in Q4 2023.
Atomic Wallet says hack affected 1% of active users, but investors claim otherwise
In the aftermath of the attack, Atomic Wallet — along with individual blockchain investigators — have amped up efforts to track and revert stolen funds.
Ledger CEO says crypto key recovery service makes self-custody easier
Ledger’s “Recover” service may be concerning, but some crypto industry participants think the feature may onboard new users while helping crypto natives.
BitGo patches critical vulnerability first discovered by Fireblocks
BitGo has patched a vulnerability that threatened to expose the private keys of retail and institutional users.
Wyoming’s private keys bill addresses growing threat to rights and assets
Wyoming’s new law ensures that courts won’t overstep their authority in requiring individuals to disclose their private keys.
Wyoming Lawmakers Pass Bill Prohibiting Forced Disclosure of Private Crypto Keys
The prohibition will not apply in cases where there is no alternative way to access the requisite information.
‘Blockchain Bandit’ reawakens: $90M in stolen crypto seen shifting
The hacker accumulated as much as $90 million worth of crypto from wallets with weak private keys during a six-year thieving spree.
What are hierarchical deterministic (HD) crypto wallets?
A hierarchical deterministic wallet uses a single seed to create an infinite number of addresses, allowing users to recover funds using a master key.
How to keep your crypto safe in 2023: a few tips from an analyst
Lead on-chain analyst at Glassnode, James Check, explains why taking self-custody of your private keys has become more important than ever and how to do it in a few simple steps.
Crypto on-chain crime drama sees the good guys finally win
Security firm Harpie managed to avert a crypto robbery by simply paying a higher gas fee than the exploiter.
How do crypto hardware wallet firms make money?
All the companies that are involved in producing hardware crypto wallets have multiple revenue streams, either directly or indirectly.
Amber Group uses simple hardware to show just how fast, easy the Wintermute hack was
The Hong Kong-based group documented its reproduction of the hack on its a tech and security oriented blog, seeking insights into Web3’s attack surface spectrum.
Crypto winter teaches tough lessons about custody and taking control
Many agree that digital assets should be held in hard wallets, but recent actions in the EU and the U.S. may make that more difficult, not easier.