š° Just said hardware wallets are a must-haveāyet hackers smashed September, the wallet company, why do they always cause trouble?
Just a couple of days ago, we talked about how to choose a hardware wallet. Then CoinTelegraph reported that a September hacker stole $768M againāmore than the first half. The two biggest casesāBitget with $388M and Liquid Network with $320Māare the most shocking. While the latterās $270M was later recovered, this month can at most be counted as a painful lesson.
Why does the crypto industry always teach people a lesson? Simply put, wallet companies are the final line of defense for fund flows. The Bitget case involving $388M means that line has been torn open. If there are more $300M+ cases in the future, this assessment becomes invalid. The continued pullback in BTC and ETH in the short term is further proofārisk-avoidance sentiment has spread from tech stocks to the entire digital-asset market.
What does that mean? The hackers are taking advantage of trust. As long as BTC holds above $80K, it stabilizes some level of confidence in the funds. If tomorrow thereās another new $200M+ hack, that conclusion becomes invalid. After all, a $768M loss is equivalent to an entire monthās DeFi revenue. Shocks at this scale are enough to turn the 24-hour move from +1.11% into negative.
This article has no sponsorship from any project. The author does not hold any of the assets mentioned
$BTC $ETH #BTC #ETH
ā ļø Not investment advice; predictions are for reference only
#CryptoQuantWarnsBitcoinUnrealizedProfitHits21-MonthHighOf54%
Just a couple of days ago, we talked about how to choose a hardware wallet. Then CoinTelegraph reported that a September hacker stole $768M againāmore than the first half. The two biggest casesāBitget with $388M and Liquid Network with $320Māare the most shocking. While the latterās $270M was later recovered, this month can at most be counted as a painful lesson.
Why does the crypto industry always teach people a lesson? Simply put, wallet companies are the final line of defense for fund flows. The Bitget case involving $388M means that line has been torn open. If there are more $300M+ cases in the future, this assessment becomes invalid. The continued pullback in BTC and ETH in the short term is further proofārisk-avoidance sentiment has spread from tech stocks to the entire digital-asset market.
What does that mean? The hackers are taking advantage of trust. As long as BTC holds above $80K, it stabilizes some level of confidence in the funds. If tomorrow thereās another new $200M+ hack, that conclusion becomes invalid. After all, a $768M loss is equivalent to an entire monthās DeFi revenue. Shocks at this scale are enough to turn the 24-hour move from +1.11% into negative.
This article has no sponsorship from any project. The author does not hold any of the assets mentioned
$BTC $ETH #BTC #ETH
ā ļø Not investment advice; predictions are for reference only
#CryptoQuantWarnsBitcoinUnrealizedProfitHits21-MonthHighOf54%
