Changpeng Zhao discusses the advantages of Binance Wallet
Changpeng Zhao discusses the advantages of Binance Wallet
Binance founder Changpeng Zhao assessed the pros and cons of different types of cryptocurrency wallets, emphasizing that Binance provides a secure, trusted wallet.
Based on information about the disclosure of a critical vulnerability in cryptocurrency wallets using Libbitcoin Explorer 3.x, he explained what the problem is.
Changpeng Zhao wrote that while cold wallets have some advantages, there are risks if users misuse them. The wallets' vulnerability stems from a problem with the random number generator, which uses a 32-bit starting number. Such randomness is insufficient for modern cryptographic tasks.
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CZ explained that Trust Wallet and Binance Wallet do not use this method to generate mnemonics, so they are trustworthy for users.
Yesterday, SlowMist reported that Distrust had identified a serious vulnerability in crypto wallets using Libbitcoin Explorer 3.x. It can lead to unauthorized access to private keys through the use of the Mersenne Twister pseudorandom number generator (PRNG).
This issue may affect users and developers of Libbitcoin Explorer 3.x wallets that use libbitcoin-system 3.6 to build libraries. Assets in Bitcoin, Ethereum, Dogecoin, Solana, Ripple, Litecoin, Bitcoin Cash, and Zcash may be affected.
When fraudsters get the secret code from the wallet, they simply withdraw the user's funds. Wallet owners have already lost over $900,000.
Therefore, it is important for users to apply a proven and secure method of random number generation when creating new crypto wallets.
Other news: Gemini will list the token XRP.
