{
  "id": 5302507,
  "title": "Coldcard, Trezor, SafePal hacks... Is Crypto Self-Custody Dead Now?",
  "url": "https://urgent.news/2026/09/03/coldcard-trezor-safepal-hacks-is-crypto-self-custody-dead-now",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T08:43:21.000Z",
  "source": {
    "name": "HackerNoon",
    "slug": "hackernoon",
    "url": "https://hackernoon.com/coldcard-trezor-safepal-hacks-is-crypto-self-custody-dead-now?source=rss"
  },
  "original_language": "en",
  "account": "August 2026 was a tumultuous month for the cryptocurrency landscape. Before the month began, attackers exploited a bug in Coldcard hardware wallets, potentially stealing up to 2,055 BTC (~$130 million) from users. This is considered the largest hardware wallet exploit ever recorded. Following these attacks, Trezor and SafePal also fell victim to separate incidents. Self-custody has been called into question by many as a result.\n\nSelf-custody advocates have been emphasizing the importance of keeping private keys offline to protect against hackers and scammers. However, the recent Coldcard hack, which was completely remote and beyond users' control, demonstrates that self-custody is not foolproof. While there were no funds lost in the Trezor and SafePal attacks, both companies experienced the leak of personal data and physical addresses for thousands of customers. This sensitive information could be used for targeted phishing attacks or even physical break-ins.\n\nThe attacks highlight that no system is entirely secure, and centralized exchanges are not a guaranteed solution. History has shown that major exchanges like Coinbase, Liquid, KeepChange, Celsius, and OpenSea have all suffered significant security breaches. These incidents have resulted in the loss of billions of dollars for users worldwide. Therefore, the phrase \"Not your keys? Not your coins\" remains relevant.\n\nThe lesson learned is that self-custody requires greater responsibility, while relying on external custody comes with its own set of risks. Users must carefully weigh the benefits and risks of each approach and make decisions based on their individual circumstances. Decentralization is key, as placing all assets in one place creates a single point of failure. Redundant backups, stored in separate locations, can help mitigate the risk of total loss. Ultimately, the cryptocurrency ecosystem is still evolving, and users must continually assess and adapt their strategies to minimize risk.",
  "summary": "The Coldcard hack, plus recent Trezor and SafePal attacks, raises big questions about crypto self-custody. Here's what they teach us.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}