🚨 Nearly 4,000 $BTC just drained from Liquid's federation wallet
Trusted bridges = single points of failure
This is exactly the centralization risk Bitcoin was designed to eliminate. You're not holding Bitcoin if someone else controls the keys through a federated multisig.
Wrapped assets and bridge protocols concentrate risk instead of distributing it. One compromise, one coordinated attack, and billions evaporate.
If you're parking serious capital in wrapped $BTC or bridge protocols, you're trusting humans not to rug you. That's not crypto. That's just banks with extra steps.
Trusted bridges = single points of failure
This is exactly the centralization risk Bitcoin was designed to eliminate. You're not holding Bitcoin if someone else controls the keys through a federated multisig.
Wrapped assets and bridge protocols concentrate risk instead of distributing it. One compromise, one coordinated attack, and billions evaporate.
If you're parking serious capital in wrapped $BTC or bridge protocols, you're trusting humans not to rug you. That's not crypto. That's just banks with extra steps.