Changpeng Zhao (CZ), founder of Binance, has addressed the risks associated with self-custody wallets, noting that they can be secure when properly used. Additionally, CZ confirmed that Trustwallet and Binance wallets are not affected by the 32-bit seed vulnerability.
In a recent Twitter conversation, Binance CEO Changpeng Zhao (CZ) drew attention to the risks posed by self-custody wallets, stating that they can be safe if users understand how to handle them. CZ reminded users to remain vigilant and prioritize security to ensure the safety of their assets.
Furthermore, CZ addressed a known vulnerability related to the use of 32-bit seeds in random number generation. Insufficient randomness can make these seeds susceptible to modern cracking methods such as GPUs. However, he confirmed that Trustwallet and Binance wallets do not rely on this method for seed phrase generation, ensuring a more secure experience for their users.