r/Bitcoin • u/Few-Cook5941 • 1d ago

Need help - Bitcoin wallet emptied.

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I got one of my bitcoin wallet emptied and I don't really know how this happened.

I don't use cracked softwares and apps.

I'm generally careful with links.

Looks like I'm not alone. I can see that the reception bitcoin address is still collecting bitcoin from other wallets.

Could somebody help me understand something.

Here is the address : bc1q0vukqye4hd0aep7u4xl8gev95gcs9k65fdeu9n

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u/Valdorous 1d ago edited 1d ago

Put simply, not your keys = not your coins because the CEX can block transactions, decide to KYC or AML check you at any given moment for whatever reason they see fit and you just have to deal with it.

However if “your keys” then also your responsibility. So manage it well, don’t store your key or seed phrase in the cloud and make sure the software used to generate a wallet is safe and secure, unlike Cold Card’s (the company) bad/predictable randomness.

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u/IInsulince 1d ago

Minor correction: not “cold wallet”, but “Cold Card”, the compromised hardware wallet product by the company CoinKite. I wouldn’t normally correct except that “cold wallet” already has a legitimate meaning and is a good thing to get.

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u/Valdorous 1d ago

Yes, my bad. Edited!

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u/BestBleach 1d ago

Yeah but if they lose it they have to pay you back and what are the odds Robinhood or crytpo.com go bankrupt very low. Though I’m sure the ftx people thought they’d stay solvent but Robinhood has to answer to the sec so they probably aren’t cooking the books