Binance founder Changpeng Zhao said in a post on X that crypto holders should spread funds across multiple wallets to reduce risk, warning that hardware wallets may carry vulnerabilities. The issue referenced in the post traces back to a firmware defect from March 2021 that affected random number generation. According to the report cited in the item, the flaw led to the theft of about 1,082 BTC, valued at roughly $70 million, from 1,196 addresses. Although the manufacturer has already released an emergency patch, the guidance highlighted in the report was not limited to installing a firmware update. Users were instead advised to create a new seed and move funds to fresh wallets. The item was carried by Techub and cited CoinDesk as the source.
Binance founder Changpeng Zhao said in a post on X that hardware wallets may contain vulnerabilities and advised crypto holders to spread funds across multiple wallets to reduce risk.
The flaw referenced in the post stemmed from a firmware defect in March 2021 that affected random number generation. It resulted in the theft of about 1,082 BTC, worth roughly $70 million, from 1,196 addresses.
The manufacturer has released an emergency patch. Even so, the report said users were advised to create a new seed and migrate funds, rather than only updating the firmware.
Techub carried the item and cited CoinDesk.
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