Seed Phrase Of The Suspect Exposed In Front Of The Police Body Camera
- Two police officers were seen checking a suspect’s car in a trending video on Twitter, finding pieces of paper, one of which included a seed phrase.
- The failure of FTX was seen as a signal to reevaluate the long-term storage options for cryptocurrencies.
- Changpeng “CZ” Zhao, CEO of Binance, observed the video and advised investors to educate themselves on the hazards associated with various cryptocurrency storage options.
Seed phrase, a special combination of 12 or 24 words, is one of the most secure ways to access your personal wallet, but keeping it is a problem, maybe in computer data memory, maybe in a file. snapshot or simply put it on paper. However, that is not the case in Nevada that Coincu is reporting.
The seed phrase of a suspect was made public as a result of a search by the Nevada State Police agency that was made possible by the body camera.
Two police officers were seen checking a suspect’s car in a trending video on Twitter, finding pieces of paper, one of which included seed phrases.
Unfolding the pieces of paper showed the suspect’s seed word, which was handwritten — a popular technique to prevent internet breaches. This proves that the suspect was a big proponent of self-custody. The event was captured on one of the officer’s body cameras, and as a result, the suspect’s seed word is now well known.
Changpeng Zhao (CZ), CEO of Binance, observed the video and advised investors to educate themselves on the hazards associated with various cryptocurrency storage options.
The most often mentioned advice in discussions about the best approach to remembering seed phrases was to memorize them. Although memorizing the seed phrase by heart seems secure, CZ pointed out that two of the main problems with keeping critical knowledge in one’s “brain wallet” are a lack of heredity and human forgetfulness.
After the FTX crisis raged on the market, a lot of investors felt nervous about depositing their funds on centralized exchanges. The idea of self-custody of your own crypto assets is not bad.
The CEOs came up to ensure the investors’ assets are safe regardless of where they choose to store their crypto, despite the first impulse to remove the cash from crypto exchanges.
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