CZ, founder of Binance, urgent warning: Protect your cryptocurrency

Recently, former Binance CEO Zhao Changpeng issued an important warning to all cryptocurrency users: Absolutely do not use shared private keys or pre-configured wallets; these risky actions can put your assets in jeopardy, and once issues arise, the hope of recovering your money is extremely slim.

Shared wallets, potential risks

Shared private keys or recovery phrases are, without a doubt, opening the door for others to access your wallet; funds can be transferred without your permission, and you can only watch. CZ stated bluntly that this is truly a "disaster that can happen at any time," strongly urging cryptocurrency users to abandon such practices.

Asset protection guidelines

1. Control your wallet independently: You must choose a wallet that only you can access the private keys to, ensuring you have complete control over your wallet.

2. Transfer funds quickly: If you have assets in a shared or unsafe wallet, immediately transfer them to a secure wallet; do not give risks a chance.

3. Request direct transfers: When receiving money, always ask the sender to transfer directly into your personal wallet to minimize risks from intermediaries.

Awareness of real risks

In a shared wallet model, others have the right to reclaim funds at any time, while you find it very difficult to prove your ownership, not to mention effective remedies. CZ emphasized multiple times that safety issues cannot have any compromises.#BtcNewHolder