Binance Founder CZ Warns: Accepting Crypto Through Shared Private Keys Could Empty Your Wallet Instantly

Changpeng Zhao (CZ), the former CEO of Binance, has issued a serious warning to cryptocurrency holders about the dangers of receiving digital assets via shared private keys or pre-configured wallets. This caution highlights the significant risks associated with giving others access to your wallet.

A Simple Transfer Could Drain Your Wallet
In a recent post on the social media platform X, CZ expressed his concern over people accepting crypto in this way, calling it a "bad idea." He stressed that allowing someone else to have access to your private key or seed phrase exposes you to unnecessary risks.

Safe Practices for Crypto Transfers
CZ advised that the safest approach is to accept crypto only to an address you control fully. He recommended users to:

Immediately transfer received funds to their personal wallet.

Ask the sender to send funds directly to an address they own.
“If you accept crypto through a pre-configured wallet or shared key, the sender can still have access to all the funds,” CZ cautioned.

Shared Access is a Risk
He also pointed out the difficulty in determining responsibility if funds are moved or stolen from a shared wallet. In such cases, it becomes nearly impossible to prove who was responsible for the transfer, whether it’s due to intentional actions or a hack.

CZ’s Past and Future Plans
CZ stepped down as CEO of Binance in November 2023 after pleading guilty to U.S. federal charges, including violations of anti-money laundering laws. After serving a four-month sentence, he was released in September 2024. He has since distanced himself from Binance and plans to invest in blockchain technology, artificial intelligence, and biotechnology. Richard Teng has taken over as Binance’s CEO, steering the company through ongoing regulatory hurdles.

Prioritizing Security
CZ’s warning serves as a crucial reminder for crypto users to prioritize security when managing their assets. Shared private keys and pre-configured wallets are unsafe solutions, and protecting your funds is essential to minimizing risks in the crypto space.

#CryptoSecurity #DigitalAssets #Cybersecurity #ChangpengZhao #CryptoWarnings
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Note: This article is for educational purposes only and should not be considered investment advice. Cryptocurrency investments can be risky and may result in financial losses.

CZ Warns Against Risks of Shared Private Keys
Changpeng Zhao (CZ), former CEO of the cryptocurrency exchange Binance, has issued a warning to crypto holders about the dangers of accepting digital assets through shared private keys or pre-configured wallets. This caution highlights the significant risks associated with shared wallet access.
A Simple Transfer Could Empty Your Wallet
Speaking on the social media platform X, CZ shared his concerns about shared access to crypto wallets. He noted that he had recently come across several cases of people accepting crypto in this way and called it a "bad idea."
“If you allow someone else to retain access to your private key or seed phrase, you’re exposing yourself to unnecessary risks,” CZ warned.
Recommendations for Safe Crypto Transfers
CZ emphasized that the best practice is to accept crypto only to an address you fully control. He advised users to:
Transfer funds to their personal wallet immediately after receiving them.Ask the sender to directly transfer funds to an address they own.
“If you accept crypto through a pre-configured wallet or shared key, the sender can still retain access to all funds,” CZ added.
CZ: “Shared Access Is a Bad Idea”
The former Binance CEO also pointed out the difficulty in proving responsibility in cases where funds are moved or stolen if two people have access to the same wallet.
“If cryptocurrencies are moved – whether intentionally or due to a hack – it’s nearly impossible to prove who did it,” CZ explained.
CZ’s Past and Current Plans
CZ stepped down as CEO of Binance in November 2023 after pleading guilty to U.S. federal charges, including violations of anti-money laundering regulations. Following a four-month prison sentence served at a low-security facility, he was released in September 2024.
Since then, he has distanced himself from Binance operations and announced plans to invest in blockchain technology, artificial intelligence, and biotechnology. Richard Teng has taken over as Binance’s CEO, leading the company through ongoing regulatory challenges.
Security First
CZ’s warning serves as an essential reminder for cryptocurrency users to maintain security and caution when managing their digital assets. Shared private keys or pre-configured wallets are not a safe solution. Proper protection of funds is critical to minimizing risks in the crypto space.

#CryptoSecurity , #digitalassets , #cybersecurity , #changpengzhao , #CryptoWarnings

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

A Fateful Night in 2023
One evening in 2023, on Spain's eastern coast, Olivier Acuña sat at his computer to transfer his entire life savings to another cryptocurrency wallet. It was a routine task he had done hundreds of times before, but this time, it ended in tragedy.
"Sending crypto is always nerve-wracking," Acuña told CoinDesk. This time, that anxiety proved justified. After clicking the send button, his cryptocurrency worth $400,000 vanished—stolen by an anonymous phishing scammer. The shock paralyzed him as his fists clenched and his body temperature rose.
This story highlights that no one is immune to crypto scams. Acuña, a seven-year veteran in the crypto industry, was well aware of the risks surrounding blockchain technology. Before entering the crypto world, he worked as a journalist, facing Mexican drug cartels and even enduring torture in prison. Yet, he became one of many victims of crypto fraud.
Crypto Scams on the Rise
In 2023, U.S. authorities received over 69,000 reports of cryptocurrency theft, totaling more than $5.6 billion in losses.
Recovering stolen funds is nearly impossible. While traditional banks offer insurance, cryptocurrency operates in a decentralized system that provides freedom but comes with significant risks. One wrong click can result in irretrievable losses.
The Fatal Mistake
Acuña couldn’t access his funds on his Ledger hardware wallet, so he turned to customer support on social media. A scammer posing as a support representative tricked him, and within 30 minutes, his funds were gone.
"Phishing scams are incredibly prevalent today," said Adrian Hetman, a Web3 security expert at Immunefi. "In crypto, phishing attempts remain a growing issue as criminals see it as an effective way to steal user funds and launch more sophisticated social engineering attacks."
Life Among the Cartels: Where It All Began
Journalism Amid Danger
Acuña began his journalism career in the 1990s, covering organized crime, elections, and corruption. His investigative reporting on drug cartels and government corruption caught the attention of major outlets like United Press International (UPI) and Reforma.
In the Mexican state of Sinaloa, home to Joaquín "El Chapo" Guzmán’s infamous cartel, Acuña risked his life to uncover the truth. But his fearless reporting eventually made him a target of Mexican authorities.
Arrest and Torture
Due to his work, Acuña was falsely accused of possessing a firearm and subjected to torture. "They tied me up, waterboarded me, and threatened to kill my family in front of me," he recalled. After spending two years in prison, the charges were dropped, and he filed a human rights lawsuit against the Mexican government.
A New Chapter in Crypto
Entering the Crypto World
In 2017, Acuña left his turbulent past behind and entered the cryptocurrency industry. He worked in public relations and production roles at companies like Electroneum, BloxLive, and IoTeX.
"When I first started writing about blockchain, I felt it was the solution to issues like freedom of speech and corruption," Acuña said. For him, crypto wasn’t just about profit but also about decentralization and justice.
The Pain of Losing It All
Despite losing his life savings, Acuña continues to work in the crypto industry. However, he warns that the industry still has a long way to go. "If we want mass adoption, crypto needs to be simple and safe," he said.
The Future of Crypto According to Acuña
Key Challenges for Adoption
Acuña emphasizes the need for better user experiences. "If we don’t get an app where you can manage all your crypto in one place, I don’t see how mass adoption will happen," he said.
Despite the challenges, Acuña remains optimistic. "Even after all the pain, I still love this sector," he concluded. His story serves as a reminder that decentralization brings freedom but also immense responsibility.

#CryptoScams , #CyberSecurity , #PhishingAttack , #CryptoNewss , #HackerAlet

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Worldcoin Faces BayLDA Mandate Over Biometric Data
The Bavarian State Office for Data Protection Supervision (BayLDA), Germany’s data protection authority, has issued corrective measures against Worldcoin (now known as World) regarding its handling of biometric data. Following an investigation, the agency has ordered the company to delete data collected in violation of GDPR rules.
Compliance Deadline Set for One Month
On December 19, BayLDA announced the conclusion of its GDPR compliance investigation into World. The regulator instructed Worldcoin to implement a data deletion process in alignment with European standards within one month. However, the World Foundation has appealed the decision, seeking clarification from regulators on whether its technology meets the EU’s legal definition of anonymization.
Enhancing User Rights with World ID
Launched in July 2023 by Tools for Humanity (TFH), Worldcoin utilizes iris recognition technology for identity verification. BayLDA’s investigation, initiated in 2023, highlighted concerns regarding the collection and handling of biometric data. BayLDA President Michael Will stated that the recent decision aims to enhance the rights of users who shared their biometric information.

“With this decision, we are upholding European standards for data privacy and individual rights,” said Will. “All users will have the right to have their data deleted.”
Additional Obligations for Worldcoin
Beyond the data deletion mandate, Worldcoin must ensure explicit user consent for certain data processing activities. The company is also required to erase data records collected in the early stages of its operations. BayLDA clarified that these changes address data obtained between summer 2023 and the point when the project was adjusted to comply with legal requirements.

World Foundation Calls for Clarification on Anonymization in the EU
The World Foundation emphasized the need for a clear and consistent legal definition of anonymization in the EU. According to Damien Kieran, the company’s Chief Legal Officer, anonymization is a critical element for secure identity verification in the digital age. The foundation’s appeal aims to confirm whether its technology complies with European regulations.

“Without a clear definition of anonymization, we risk losing a vital tool for protecting privacy in the era of artificial intelligence,” Kieran stated. The World Foundation and TFH plan to continue working closely with regulators in the EU and beyond to ensure that innovation and privacy protection go hand in hand.

#worldcoin , #wld , #cryptonewss , #cybersecurity

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Cryptocurrency investments promise significant returns, but they also carry cybersecurity risks. In 2025, with the growing popularity of digital assets, these risks will become even more relevant. Let's consider the main threats and ways to minimize them.

Main cyber threats

Detectives from Scottsdale, in collaboration with U.S. Secret Service agents, arrested a man on December 11 for charges of theft, fraud, and money laundering. The suspect allegedly stole $300,000 worth of cryptocurrency from two unsuspecting passengers.
Fake Uber Driver as a Trap
According to Fox10 Phoenix, Nuruhussein Hussein pretended to be an Uber driver in Scottsdale, Arizona. The thefts reportedly occurred in March and October when Hussein lured victims waiting outside the W Hotel, posing as their ordered Uber ride.
First Incident: Hussein allegedly asked to borrow a passenger's phone, claiming his device was broken.Second Incident: He offered to resolve issues with the Uber app after the victim questioned why the app showed the driver hadn’t arrived yet.

Stealing Cryptocurrency from Coinbase
Hussein reportedly used the opportunity to access the victims' Coinbase accounts while holding their phones. The stolen cryptocurrency was transferred from phone to phone and moved to cold storage (offline wallets).
Court documents do not specify how Hussein knew the names of the passengers waiting for their Uber.
Threatening the Victims
When one victim grew suspicious, Hussein allegedly threatened them, saying: “Calm down, or something bad will happen.”
Arrest and Charges
Hussein was arrested by Scottsdale detectives and U.S. Secret Service agents on December 11. The judge set a $200,000 cash bond and ordered electronic monitoring if Hussein were to secure his release.
The court imposed restrictions, including:
No internet usage,No international travel, due to concerns that Hussein might destroy evidence or flee to Ethiopia, where he allegedly travels frequently.
Hussein is scheduled to appear in court again on December 18.
Rising Cases of Cryptocurrency Robberies
According to GitHub, there have been at least 19 cases of offline crypto thefts worldwide in the past year. This compares to 17 cases in 2023 and 32 in 2021.
One of the most notable incidents occurred in 2014, when an unknown attacker attempted to extort 1,000 bitcoins from computer scientist and cryptographer Hal Finney. At the time, the stolen amount was valued at $400,000.
Recent Case in Australia
In the latest recorded incident on December 3, thieves in Melbourne, Australia, crashed through a shopping center window and stole a Bitcoin ATM. Police later found the ATM pried open and burning in a park.

#cryptofraud , #cryptocrime , #CryptoNewss , #cybersecurity , #Cryptoscam

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

🚀💻 Vitalik Buterin Sounds the Alarm: Quantum Computers Could Break Cryptography by the 2030s! 🔓😱
Quantum computing, with its mind-blowing ability to process data millions of times faster than current systems, poses a serious threat to today's encryption standards. 🧠✨ If progress continues at this pace, existing cryptographic systems could be rendered obsolete within a decade, leaving digital assets and sensitive data vulnerable. 😬🛡️
Are we truly prepared for this quantum revolution? The clock is ticking, and the race to develop quantum-resistant encryption is on. 🤔🔮
#QuantumComputing #CyberSecurity #BlockchainFutur e #Encryption

The Health Sector #cybersecurity Coordination Center (HC3) in the United States has announced that at least one healthcare institution in the U.S. has been hit by the Trinity ransomware, a new threat targeting critical infrastructure.
The Threat of Trinity Ransomware and How It Works
A U.S. government agency issued a warning regarding the Trinity ransomware, which targets victims and extorts them for #CryptocurrencyPayments in exchange for not leaking sensitive data. This ransomware uses various attack methods, including phishing emails, malicious websites, and exploiting software vulnerabilities.
Once it infiltrates a system, the ransomware scans the victim's computer, collects sensitive information, and encrypts files using advanced encryption algorithms, rendering them unreadable. #hackers then leave a message in the computer informing the victim that their data has been encrypted and demanding a ransom in exchange for a decryption key.
Hackers’ Demands: 24-Hour Deadline for Payment
In the ransom note, victims are warned that they have only 24 hours to pay the ransom in cryptocurrency, or their data will be leaked or sold. HC3 noted that there are currently no available decryption tools for Trinity ransomware, leaving victims with few options for recovery.
"Victims have 24 hours to contact the cybercriminals, and if they fail to do so, the stolen data will be leaked or sold," HC3 reported. The ransomware primarily targets critical infrastructure, including healthcare providers.
Attacks on Healthcare Institutions
The Trinity ransomware has already affected seven organizations, with healthcare facilities being one of its primary targets. HC3 reported that at least one healthcare entity in the U.S. was recently impacted by this ransomware, raising concerns about cybersecurity in the healthcare sector.
Crypto Ransom Payments Reached $1 Billion in 2023
According to the Chainalysis 2024 #cryptocrime Report, ransomware attackers received approximately $1.1 billion in cryptocurrency payments in 2023. These ransoms were paid by high-profile institutions and critical infrastructure, with attacks ranging from small criminal groups to large syndicates.
The report also revealed that 538 new ransomware variants were created in 2023, with major corporations like BBC and British Airways being among the primary targets of these attacks.
#cyberattacks

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

 

Reports indicate that the popular rapper Wiz Khalifa’s X account was hacked on November 3, with the account misused to promote a fraudulent memecoin called "WIZ." This token is currently trading for under $10,000.
Fraudulent Posts Target Crypto Fans
After the account hack, a post appeared suggesting that Wiz Khalifa had "worked with his team to launch $WIZ for all crypto fans." The post encouraged Khalifa’s 35.7 million followers to invest in the token.

WIZ Value Plummets Following a Brief Surge
The WIZ memecoin launched via the Solana platform pump.fun, initially reaching a market cap of $3.4 million within the first 15 minutes. Shortly after, however, its value plummeted as early holders sold off their tokens in large amounts, bringing WIZ down to under $28,000. According to DEX Screener, the token is currently valued around $8,400.

Profits from Token Manipulation
Data from Solscan reveals that the two largest holders bought over 155 million WIZ tokens at launch for approximately $19,100 and later sold them for a combined profit of $160,000.
Suspected Link to Another Hacking Incident
The hacker’s exact identity and how they accessed Khalifa’s account remain unknown. However, blockchain detective ZachXBT noted that this hacker is likely the same individual who compromised Truth Terminal developer Andy Ayrey’s account on October 29. Zach warned on November 3 in his public Telegram group, “Do not buy Wiz Khalifa’s Pump Fun token; it’s the same hacker who recently compromised Andy Ayrey.”
Repeated Account Hacking Pattern
The hack of Ayrey’s account followed a similar strategy—using the account to promote fraudulent memecoins, yielding over $1.5 million in illicit gains.
Significant Drop in Other Memecoins
Truth Terminal, which employs an AI bot, was responsible for inflating the value of the memecoin Goatseus Maximus (GOAT) to a peak of $940 million. However, GOAT’s market cap has since fallen by 39%, currently at $544 million since October 24.

What’s Your Take on Social Media Security?
Do you think stricter security measures should be implemented? We’d love to hear your thoughts in the comments!
#Cryptoscam , #CryptoNews🚀🔥 , #cybersecurity , #Memecoins🤑🤑 , #memecoinalert

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

As bitcoin remains stable in the range of 51k and 53k, today we have two very interesting interviews.

La primera es con Gabi Urrutia, VP of security de Halborn, el certificador blockchain mas importante del mundo

HALBORN is a leading cybersecurity and blockchain certification company, specializing in decentralized finance and related products. They offer 360 protection, auditing not only smart contracts, but also the web, the cloud and mobile applications.