Mixin Sounds Alarm on Self-Custody Risks After COLDCARD Entropy Incident

Mixin, a Hong Kong-based privacy wallet company, is drawing attention to the risks of self-custody after a recent issue with COLDCARD's entropy generation.

The problem arose from certain firmware versions not using the intended hardware random number generation path when creating wallet seeds, resulting in an ineffective search space. This meant that users who generated their seeds during this time were exposed to potential security risks.

Mixin highlighted the importance of considering multiple critical components and how they share a common source of failure. The company's own multisignature self-custody product, Mixin Safe, includes a layered security architecture combining MPC and timelock mechanisms.