Rhys William Titan 🏴󠁧󠁢󠁷󠁬󠁳󠁿

WHAT THE BINANCE HACK TEACHES YOU Bitcoin held on an exchange is not Bitcoin you control. It’s a Bitcoin IOU. Crypto is not the same as Bitcoin. Many tokens are programmable assets issued or controlled by centralised foundations and companies. Stablecoins are not Bitcoin. They can be frozen for good or bad reasons. Large crypto exchanges are not FDIC-insured banks. Their crypto balances are not protected by FDIC deposit insurance. Binance created its own insurance-style emergency fund, SAFU, because it cannot rely on being too big to fail. Banks, on the other hand, can become too big to fail, socialising losses while privatising gains. Self-custody comes with different risks. Social engineering tricks you into taking an action that compromises your keys. Compromised devices, malicious software and insecure seed phrase generation can expose your Bitcoin without you realising it. Wrench attacks introduce another risk: physical violence or coercion to force you to surrender your keys. Self-custody removes counterparty risk, but makes you responsible for managing your own security. AI is accelerating cyber threats across everything, not just exchanges and crypto. You have no choice but to get good at security. It’s the world we’re moving into, and we’re never going back. Securing your own keys, money, identity and data is becoming one of the most important skills for surviving the future. Start now if you want to be sovereign. You have no choice but to take responsibility for your own security. Oh yeah. 🇮🇱 Every hack is always North Korea. 😂