Binance founder CZ issued an urgent warning: Protect your cryptocurrency! Protect your wallet and don't let villains take it away!

Recently, Zhao Changpeng, former CEO of Binance, issued a key warning to all cryptocurrency users: Never use shared private keys or pre-configured wallets. Such risky operations may put your funds in danger. Once you encounter problems, the hope of recovering funds is extremely slim.

Shared wallets, hidden risks

Sharing private keys or mnemonics will undoubtedly open the door to your wallet for others. Funds may be quietly transferred away at any time without your permission, and you can only do nothing. CZ bluntly said that this is simply a "disaster on the verge of breaking out" and strongly urged crypto users to abandon such practices.

Asset Protection Guide

1. Self-control of wallet: Be sure to choose a wallet that only you can access the private key to keep the control of the wallet firmly in your hands.

2. Rapid transfer of funds: If you have assets in a shared or unsafe wallet, transfer them to a safe wallet immediately and don't leave any opportunities for risks.

3. Request direct transfer: When receiving funds, be sure to let the sender transfer directly to your personal wallet to reduce the risk of intermediate links.

Realistic risk insights

In the shared wallet model, others have the right to claim back the funds at any time, but it is difficult for you to prove your ownership, let alone effective remedies. CZ repeatedly emphasized that security issues cannot be compromised.

CZ's post-Binance mission

Since resigning as Binance CEO in 2023, CZ has devoted himself to the development of blockchain, artificial intelligence and biotechnology, while sparing no effort to popularize the security protection knowledge of digital assets to the crypto community.

Hold your private key tightly, stay away from shared wallets, and keep your funds under your control.

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