Crypto Users Advised to Stay Vigilant Amid $70 Million Coldcard Exploit

Binance's CZ has cautioned crypto users to remain vigilant and adopt precautions when holding their assets, emphasizing that no platform guarantees complete safety.

A recent exploit involving the Coldcard hardware wallet resulted in a $70 million loss of Bitcoin for holders, with up to 594 BTC drained from wallets in under 30 minutes.

CZ noted that even reputable platforms and older wallets can have security flaws, but spreading holdings across multiple wallets may help mitigate risks, albeit with its own set of challenges.