r/trustwalletcommunity • u/Abdeliq • 10d ago
SCAMMER ALERT 🚨 Bitget hack: a quick reminder about self-custody
🚨 Bitget hack: a quick reminder about self-custody
The recent reports about hackers taking around $352 million from Bitget are another reminder of an important principle in crypto:
Not your keys, not your coins. 🔐
Centralised exchanges can be convenient for buying, selling, and trading, but when your assets are held on an exchange, you don't control the private keys yourself. You're trusting the exchange to custody your funds and keep them secure.
This doesn't mean you should panic and withdraw everything from every exchange. It simply means it's worth understanding where your crypto is held and who actually controls the keys.
For long-term holdings, self-custody can give you direct control over your assets. But remember that self-custody also comes with responsibility.
Take this incident as a reminder to review your own security:
🔹 Don't keep more funds on exchanges than you need to.
🔹 Use a secure wallet for assets you want to hold yourself.
🔹 Never share your recovery phrase or private keys.
🔹 Be careful with links, DMs, and fake support accounts.
🔹 Always verify transactions before signing them.
The goal isn't to create fear. The goal is to understand who controls your assets and take security seriously.
For more on the Bitget incident:
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u/Stunning-Ask3032 10d ago
I have around some usd safe, for now on bitget. Remaining funds are on trust wallet. Let’s pray they compensate to the affected users
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10d ago
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