Binance Founder CZ's Cryptocurrency Security Alert: Protect Your Wealth

Former Binance CEO Zhao Changpeng recently warned: Don't use shared private keys or pre-configured wallets, as this can put your funds at extreme risk; once problems occur, recovering the funds is nearly impossible.

A shared wallet is like giving someone your key; your funds can be transferred at any time. CZ calls this a "disaster" and urges users not to do this.

To safeguard your assets:

Choose wallets where only you can access the private keys, such as hardware wallets or secure software wallets, and take control of your wallet.

If your assets are in an insecure wallet, transfer them immediately to a secure location.

When receiving payments, have the other party transfer directly to your personal wallet to reduce risk.

In reality, shared wallets allow others to reclaim funds, making it difficult for you to prove ownership and remedy the situation. CZ emphasizes that security cannot be compromised.

After stepping down in 2023, CZ has been active in areas such as blockchain and has been educating the crypto community about security knowledge.

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