CZ says users should wait weeks before moving large sums into new wallets

Binance co-founder Changpeng "CZ" Zhao shared a simple self-custody safety rule: do not move large amounts of funds into a newly purchased hardware wallet or a newly downloaded software wallet right away. Instead, he said users should wait for several weeks and monitor security-related news during that period. CZ said that watch period matters because hardware devices can be tampered with, and official wallet software websites can also be compromised. He specifically pointed to security incidents such as hacker attacks as the kind of news users should keep an eye on before trusting a new wallet setup with substantial assets. He also said self-custody gives users greater control over their assets, but that control comes with added responsibility. In his view, holding your own crypto means taking on more of the security burden yourself, rather than relying on a third party.