After $89M Coldcard hack, Bitcoin breaks from the FTX pattern

Aug 3, 2026 3:13 PMPublished Aug 3, 2026 3:13 PM

The $89M Coldcard hack proves that "not your keys, not your coins" is a dangerous myth for the average investor. While self-custody is touted as the ultimate security, a single firmware bug just wiped out thousands of wallets remotely. For most people, holding Bitcoin in a regulated ETF or exchange is actually safer than trusting their own technical ability to manage hardware. Is it time to admit that professional custody is superior to the risks of self-custody? What’s your take?
This summary was generated by AI

Three years ago, FTX taught everyone to pull their Bitcoin off exchanges. This week, a hardware wallet taught them to put it back.

www.thestreet.comAfter $89M Coldcard hack, Bitcoin breaks from the FTX patternThree years ago, FTX taught everyone to pull their Bitcoin off exchanges. This week, a hardware wallet taught them to put it back.

Wallets •Bitcoin

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