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Exchange hack loss surpasses self custody failures for year, Jameson Lopp notes

Exchange hack loss surpasses self custody failures for year, Jameson Lopp notes
Exchange hack surpasses self custody failures

A single exchange hack has resulted in more losses than all self custody failures combined so far this year, according to Jameson Lopp.

Lopp addressed previous claims that self custody was either dead or too risky, contrasting those views with losses incurred from the recent hack.

Earlier this year, Jameson Lopp argued that third-party bitcoin custody through an ETF does not remove loss risks and can expose users to more potential issues in a previous article. Lopp has also criticized the ongoing pattern of users moving from one centralized provider to another after security lapses, as noted in another recent critique. His recent comments follow this ongoing examination of custodial risks in the crypto sector.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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