
Post
kangmin
One hack didn't kill self-custody. It proved why self-custody matters.
A lot of people are calling the Coldcard incident the end of self-custody.
I see it very differently.
Around 1,100 BTC has reportedly been stolen so far, but roughly 11,000 BTC moved to exchanges yesterday. That suggests many users had time to react and secure their funds before attackers could reach them.
That's the biggest advantage of self-custody.
When funds are spread across thousands of individual wallets, an attacker can't drain everything at once. Each wallet has to be discovered and compromised separately, giving users a chance to move their Bitcoin.
Now imagine the same vulnerability at a centralized custodian.
There would be no warning. No time to react. No opportunity to save your coins. A single exploit could put everyone's funds at risk in one move.
Yes, losing funds is painful, and every victim matters.
But this incident also highlights an important truth: decentralization isn't just about ownership—it's about resilience.
The more distributed Bitcoin is, the harder it becomes for a single failure to threaten the entire network.
Self-custody isn't perfect.
But neither is trusting one company with everyone else's keys.
$BTC #Bitcoin #SelfCustody #Crypto #Security
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