DUO Guest Author @thelastdash with - Even Self Custody is Not 100% Secure
https://img.leopedia.io/DQmNqj7h4L92J9WEXkJeS5XTBZf3n5Rem2EEM6ZeYSHoqyY/1000219890.webp
Welcome to a DUO guest author post by @thelastdash
If you are interested in being a guest author be sure to let us know, 50% profit share on the post!
More info and rules about the guest author spot here
If you need any help or have questions about DUO, the team is here for you! Leave a comment or reach out on discord
This post is written by a guest author. The views and opinions expressed in this article are those of the author and do not necessarily reflect the views or opinions of the DUO team. The DUO team check the guest author posts with ai and plagiarism detection tools
Top 3 DUO stakers
1 
2 
3 
Even Self Custody is Not 100% Secure
https://img.leopedia.io/DQmNqj7h4L92J9WEXkJeS5XTBZf3n5Rem2EEM6ZeYSHoqyY/1000219890.webp
An image generated with AI
The crypto community always kept repeating one saying; "Not your keys not your coins". You have control of your funds as long as you are in possession of the private keys. But on a daily basis, we still get news about people having their funds stolen from a hacked wallet.
I read a post today from someone I know that his crypto wallet was hacked and all funds were stolen although he took the right precautions and secured his private keys correctly. Frankly speaking, I felt extremely sorry for him as the amount of crypto that was stolen from him was huge.
From the screenshot he provided, the total crypto assets stolen from his wallet amounted to over $4000 worth and these funds have now moved to a different unknown wallet. The painful thing is that the funds were actually there in the hacker's wallet but there was no hope to recover them.
Even more surprising is the fact that this individual is not new to the crypto space and very security conscious, with his private keys kept offline and the seed phrase written down in a notebook where it was stored somewhere securely. It was primarily a wallet that he had funds stored on for the long term and it was never used to interact with unknown online entities.
How the wallet was compromised is a mystery.
This story got me thinking and I am now having to ask myself this tough question; Is self custody still the safest way to keep our crypto funds safe?
I keep wondering what if that money was on the exchange, say Binance. Centralized exchanges typically have strong teams working in tandem with modern systems that would usually prevent something of that magnitude from happening, sometimes with insurance backing up any losses sustained by users.
What is actually astonishing is that there is a news report or post almost on a daily basis that indicates an individual user has lost money due to a hacked wallet, but it's quite uncommon to see people lose money on major exchanges with no hope of refund.
In my own experience, I lost money to a hacked wallet but never to a centralized exchange.
Perhaps, the actual moral of the story should not be choosing one side over another. It seems that the smart option today is diversification, both by not keeping everything in a single wallet or in a single exchange.
You can trade DUO with the links bellow
https://tribaldex.com/trade/DUO
https://hive-engine.com/trade/DUO
Link to the DUO white paper here
If you no longer want to be tagged in the guest author posts please just let us know and we will remove you. Thanks!
@itharagaian @wearelegion @oahb132 @borniet @servelle @juanvegetarian @thebighigg @bulliontools @bitcoinman @crazyphantombr @dbooster @freecompliments @caspermoeller89 @trumpman @tokenpimp @enginewitty @bradleyarrow @daveks @melinda010100 @shiftrox @tengolotodo @esmeesmith @davedickeyyall @youloseagain @gwajnberg @adamada @cwow2 @flemingfarm @elevator09 @imagenius.dac @thewobs94 @misterc @postapopgamer @justclickindiva @godfish @eolianpariah2 @rainbowdash4l @sylmarill @scoutroc @costanza @hiveph @rollingstar87 @coolguy123 @lourica @stuartcturnbull @gratefuleveryday @chaosmagic23 @omoomowess01 @lbi-token @jk6276 @les90
Posted Using INLEO
!DUO !PAKX
You just got DUO from @bitcoinman.
They have 1/1 DUO calls left.
Learn all about DUO here.
View or trade
PAKXtokens.Use !PAKX command if you hold enough balance to call for a @pakx vote on worthy posts! More details available on PAKX Blog.
I wonder if we as individuals could have our own self custody wallets insured too.
That would be great as we can never fully guard ourselves against theft.
!DUO !PIMP
You just got DUO from @rainbowdash4l.
They have 1/2 DUO calls left.
Learn all about DUO here.
I don’t think this has to do with hacking, as in - if it were possible to hack a sc wallet, you could do that to all wallets, so why target a wallet with relatively low amount.
Most likely either that the person was sloppy while storing his keys, or entered them in a scammy site.
Still sucks and unfair! But nothing points towards self custody being hackable.
!DUO
You just got DUO from @rainbowdash4l.
They have 2/2 DUO calls left.
Learn all about DUO here.
After checking everything to find out what went wrong, it was discovered that a malware virus in his computer was what the hacker used to gain access to wallet.
Sorry to hear that!
Congratulations @duo-curator! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts: