Major exchanges are capitalizing on shaken confidence after the Coldcard hack. Crypto inflows to exchanges are rising even as trading volumes fall, suggesting users may be moving funds there for safekeeping. The biggest risk of exchange custody is not even a hack. It is that the exchange may simply refuse to return your money. Secure self-custody is not that hard: generate your seed phrase yourself with sufficient entropy, and stop relying on custodians' goodwill.
It is statistically safer to store coins on exchanges than to self custody. 👇 A few thoughts: Assuming the data is correct, my impression is Willy has always been a strong supporter for self custody. Hack data is easier to collect on the CEX side, usually major news. It is harder on the self-custody side, where hacks, lost coins, etc are often not reported. On the exchange side, some deceased exchanges drag down the data. Binance (and a few other exchanges) have always covered users for any CEX side hacks. Not saying one is better than another. Different approaches have different risk profiles (and product offerings), and may be better suited for different people. A balanced approach is probably best.
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