René Pickhardt, a German Bitcoin researcher and Lightning Network developer, admitted that his concerns about self-custody security prevented him from accumulating more bitcoin despite believing in its long-term potential. Attackers exploited a flaw in Coldcard hardware wallets that made seed phrases predictable, resulting in the theft of more than 1,755 BTC (over $100 million). One victim allegedly lost approximately $1.6 million despite storing his wallet in a safe deposit box. Pickhardt’s remarks resonated with users who acknowledged that securely managing Bitcoin remains intimidating, while Blockstream CEO Adam Back noted that bearer asset ownership comes with great responsibility to protect one’s keys.
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