**Crypto Security Alert: BSI Recommends Hardware Wallets**

Germany’s Federal Office for Information Security (BSI) has issued a new advisory on the safest ways to store cryptocurrency. In an Aug. 16 LinkedIn post, BSI emphasized that hardware wallets are the most secure option for safeguarding private keys.

- **Hot Wallets**: Convenient but risky, as they are always online and vulnerable to hacking.

- **Self-Custodial Wallets**: Safer than exchange wallets, but still exposed to internet-based threats.

- **Hardware Wallets**: Best option, secured by PIN, and recommended for storing private keys.

BSI also advised users to back up their seed phrases or private keys and store them securely.

**Crypto Hacks Surge in 2024**

Chainalysis reports a 2.8% increase in crypto hacks in 2024, with the total value stolen rising by 84.4% due to higher digital asset prices. Private key exploits accounted for over half of these hacks.

**July's High-Profile Attacks**

- **WazirX Hack**: $235 million stolen by North Korea’s Lazarus group.

- **Casper Network Exploit**: Operations halted but later resolved after a node software upgrade.

Stay vigilant and secure your crypto assets!