Changpeng Zhao commented on the Coldcard hardware wallet vulnerability and said a software fix in a self-custody setup does not solve the problem for wallets that were already generated before the flaw was addressed. He said this is a core limitation of self-custody: developers can patch the bug, but they cannot retroactively secure old wallets that users have already created. Zhao also noted that developers have no direct way to reach users who rely on air-gapped devices, which makes the response even harder once a vulnerability is discovered. Until users take action themselves, those wallets remain exposed to hacking risk. Zhao added that he still believes in self-custody, while acknowledging that the model places the full burden of security on users.
Changpeng Zhao weighed in on the Coldcard hardware wallet vulnerability, saying that in a self-custody model, a developer fix does not resolve the issue for wallets that were generated before the patch.
He also said developers cannot reach users who use air-gapped devices. Until users take action on their own, those wallets remain exposed to hacking risk.
Zhao said he still believes in self-custody, but acknowledged that the model puts the full responsibility for security on users themselves.
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