Interesting stat this weekend. OKX says they're seeing record inflows post-Coldcard, called it the flip side of FTX. FTX pushed people into self-custody, this is pushing them back to exchanges. (theblock.co/post/410515) Worth pausing on though, because moving to an exchange doesn't fix what broke. Coldcard's hardware RNG flag said on, it wasn't. Seeds came from the chip's serial number and uptime instead, guessable offline, $70M+ gone, no device access needed. A control saying it's working and just not being doesn't stop mattering because someone else is holding the keys now. We don't generate seeds. Key shares are made independently, in separate hardware-isolated environments, each with its own randomness, signing together without ever forming one full key. Bad randomness in one share doesn't leak the key. Splitting the key gets you the architecture. Doesn't prove the randomness underneath is sound. You still have to check that, wherever the keys live.
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