@perkinsights: The Coldcard Hack vs. Traditional Brokerage Account Hacks A Different Type of Security Risk The recent Coldcard-related hack is a reminder that moving Bitcoin off an exchange solves one important problem, “not your keys, not your coins,” but it also creates a different security analysis. Self-custody gives individuals greater control, but it also places greater responsibility on the owner. Attacks Are Increasing Across Financial Systems In April 2026, FINRA issued a notice warning that attacks targeting traditional brokerage accounts are on the rise. Cybercrime is not unique to Bitcoin. As more value moves online, both traditional finance and digital assets are facing increasingly sophisticated threats. Who Controls the Narrative? Traditional brokerage firms are part of a mature financial system made up of large institutions with established communications teams and longstanding relationships with regulators and the media. Bitcoin has no central company, no CEO, and no marketing department to shape the public narrative. As a result, security incidents involving Bitcoin often receive significant attention even though cyberattacks also occur throughout traditional finance. The Difference in Consumer Protection When a traditional brokerage or bank account is compromised, customers are often made whole through decades of developed security systems, insurance programs, fraud protections, and other backstops. Those protections did not appear overnight. They were built over many decades as the financial system evolved. Making Room for Different Security Models There will always be people who are willing to accept the responsibility and risks that come with complete self-custody, and that choice should absolutely remain available. But if Bitcoin is going to serve everyday retail users and compete within one of the most sophisticated financial systems in the world, the Bitcoin retail ecosystem should also make room for exchanges, banks, and qualified custodians to develop secure custody solutions with meaningful consumer protections and backstops. Expanding these options doesn’t diminish self-custody. It gives everyday people the flexibility to choose the level of responsibility and protection that best fits their needs. #Bitcoin #SelfCustody #Coldcard #DigitalAssets #Crypto

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Thursday 06 August 2026 20:06:41 GMT