CZ Urges Crypto Users to Spread Funds After $70M Coldcard Security Breach

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Binance founder Changpeng Zhao has advised cryptocurrency holders to diversify their assets across multiple wallets following a major security exploit involving Coldcard hardware wallets. The breach resulted in losses of approximately $70 million, highlighting vulnerabilities even in dedicated hardware storage devices. Zhao noted that hardware wallets, despite being considered among the safest storage options, are not immune to bugs and technical failures. His comments serve as a cautionary reminder for crypto users to avoid concentrating funds in a single wallet or device.

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