Binance Founder CZ's Cryptocurrency Security Alert: Protect Your Wealth
Former Binance CEO Zhao Changpeng recently warned: Do not use shared private keys or pre-configured wallets, as this puts funds in extreme danger, and recovering funds after an issue is nearly impossible.
A shared wallet is like giving someone your keys; your funds can be transferred at any time. CZ calls this a 'disaster' and urges users not to do so.
To safeguard assets, do the following:
Choose wallets where only you can access the private keys, such as hardware wallets or secure software wallets, to maintain control of your wallet.
If your assets are in an insecure wallet, transfer them to a safe place immediately.
When receiving payments, have the other party transfer directly to your personal wallet to reduce risk.
In reality, in a shared wallet, others can reclaim funds, and you may struggle to prove ownership and remedy the situation. CZ emphasizes that security cannot be compromised.
After stepping down in 2023, CZ has immersed himself in areas like blockchain and has been educating the crypto community about security knowledge.
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