Why does knowing your recovery phrase mean someone can directly access your assets?
Self-custody wallets don’t have a “forgot password” feature. If you lose your recovery phrase and haven’t backed it up, your assets are basically impossible to recover.
Web pages that ask you to enter your recovery phrase to “sync” are almost always scams. Close them immediately.
Today’s price: $BTC is trading at 83141.24 (24h +1.05%).
Have any of you misunderstood this before?
Self-custody wallets don’t have a “forgot password” feature. If you lose your recovery phrase and haven’t backed it up, your assets are basically impossible to recover.
Web pages that ask you to enter your recovery phrase to “sync” are almost always scams. Close them immediately.
Today’s price: $BTC is trading at 83141.24 (24h +1.05%).
Have any of you misunderstood this before?