We stash steel plates in our backyards, but then we show off our mining rigs or brag about our stack while having a drink.
The real weak point in Bitcoin isn’t the code. It’s our own egos!
Humans are the weakest link in security, and human behaviors contributes largely to wallet exploitation other theft, just like in every hack's there is often a backend support Which means insiders support.
Regardless of how robust cryptography security is, human flaws contribute highly to it exploit rather than technical failure like bugs.
It has always been discussed before that when someone is attacked either by hackers or maybe robbers for his bitcoin then such person has definitely left a trace and this trace can be either through hot wallets for hackers, or has flaunted his investment in the social media and got exposed then or simply must have used his mouth to announce his bitcoin.
If you read about the whole reports of bitcoinier been physically attacked to submit their wallet seed or private key by robbers then be sure that two things have happened. One is that his information might be leaked by some people like the situation France when people declare their assets or the owner himself invite the robbers through his mouth
In todays world where people want to share everything about their lives with the world, we have thrown caution to the wind and all sense of privacy. Even the alarming news of wrench attacks in Europe doesnt seem to deter people from oversharing on the internet. Bitcoin holders need to be discreet about their investment, do not post your wallet balance/portfolio on social media, and do not link public wallets to your storage wallets.
Insider information always play a role in exploitative processes that tarnishes the reputation of an entity. This is one of the major challenges of security where the gap need's to be filled. Every exploitation has a support from the within that feeds them with information.
Human flaws which I can recall can contribute to attacks and lots more. It would be either failure to update app or clicking on links you know nothing about and this steals information from us and equip scammers to do their dirty jobs.
Indeed its the human mouth that is considered the weakest link and the biggest threat to secure our funds. Its the human errors that mostly endanger the security of our funds, of our bitcoin wallet.
Therefore, in order to mitigate this threat, we have to never speak of it, and just treat our seed phrase like an absolute secret. And if possible, going completely offline will save us from future losses and regrets.
It's your wallet seed phrase, it's your private keys, and it's your coins. If you lose your wallet seed phrase, you lose access to that wallet, lose private keys, and lose your coins too.
Steel plates or paper pieces or whatever, they're only means of storing your wallet seed phrases that have to be stored secretly, privately and securely enough.
How to Bury a Bitcoin Seed Phrase Backup.
So, you've revealed your little secret.
Why bother putting in the effort (and achieving results) if you're not going to brag about it over a beer?
Well, the human factor has always been the most vulnerable to hacking. But your point is clear: by eliminating this most vulnerable vulnerability (excessive talkativeness), you can "enhance" the "protection" system for storing your crypto assets.
In fact, a secure storage system for crypto assets includes a range of measures, from the most reliable physical storage method (a metal plate, as fireproof, not particularly strong and resistant to various external influences) to information security (the ability to keep information about your assets from being shared with third parties). The best results from secure storage will only be achieved if all these measures are followed.
There are many crypto theft incident where the perpetrator is social engineering people into leaking their seed phrase, from acting as a technical support to persuading them.
Beside flexing, people need to be educated about how to avoid social engineering and to never trust anyone over the phone. This reminds me the case of Malone Lam who stole $263m worth of crypto through social engineering.
Yup, that is right but many people gives their big mouth to others and show off they have. That could be coincidentally happens but too risky which reminds of the things that can happens to us.
Human errors will be the common mistake that will makes someone in risks for the vulnerability.
Folks should learn that keeping their bitcoin secret is as important as keeping their cash secret.
I never see anyone flexing their cash in their home because they know that will bring unneeded attention to them.
Same thing with bitcoin but for some reason some of these people want everybody to know that they are holding bitcoin which is baffling.
Except it is far easier and more practical to keep your Bitcoin secret than the pile of cash inside your closet/under the bed/buried in the backyard. The problem is you can keep it so secret that you lose access to it quite easily.
Human beings are indeed far too flawed to be expected not to eventually lose their seed phrase.
But that does not mean the answer lies in giving it to a third party to keep it safe for you. We have seen by examples of Mt.Gox, FTX and others that the third parties are just as bad at keeping it safe as anyone.
I think that people should avoid showing off their success too much, especially when it comes to bitcoin and cryptocurrency. There have been more and more cases where criminals find out that someone owns crypto, kidnap them, and torture them until they reveal where their seed phrase is hidden. In some cases, the victims are even killed afterward. Sometimes excessive vanity and the desire to impress others can lead to very tragic consequences. Instead of gaining admiration and approval, a person may end up attracting serious danger. It is much better to earn peoples respect and attention through other qualities and achievements, without putting your personal safety at risk.
Why should they show their success and wealth?
People even feel normal with money they have even they're rich especially people who are rich but live in developed nations.
First of all, they see it very normal and don't have need of showing off.
Secondly, if they know about risk of physical attacks, they have many other big reasons and fear so that they will live a humble life and keep their wealth in secret.
Database of Physical Attacks Against Crypto Holders.
https://stats.gart.io/
And this is another reason why I don't drink. Besides causing liver problems down the road, addiction, and temporary mind paralysis from doing any serious work, it also leads crypto kidnappers your way with a loose mouth.
There are many people like me who don't drink but still lose their Bitcoin, it's not just about running your own mouth, many Bitcoin investors have lost their Bitcoin because they let it exposed to online more than those who runs their mouth and got robbed.
Since I've known about Bitcoin, the majority lost their assests because they can't keep the seed recovery offline, some use cloud storage and some use custodial wallets.
Showing off can introduce new risks into your life and that's why this is a good advice to always keep your mouth shut but wrong ways of keeping recovery seed have made many lost their Bitcoin than others.
Human vanity is always something amusing to watch. I remember that case wherein a hacker successfully hacked someone for over $200 million, gets relatively undetected for some time and, because he wants to get the upper hand in a pissing contest, leaked his dox purely for being vain. No matter how secure our keys are, nothing beats human stupidity if it wants to prove something so trivial, in this case just to flex.
This is why it's important to blend in with the rest of the crowd if you are already making bank with crypto. Sure, you may have some insane self-control to not leak your seed phrase (as most of us do), but this makes you a target for a wrench attack or irl physical violence to surrender your keys.
I'd rather be an average joe than to be a known figure in the cryptospace, or even in life in general.
Thanx for all your comments this one talk to :
Yeah It happens to a lot of people ... but i can tell that drinking is harmfull !
Bragging about your stack or your custom mining setups over a beer turns a digital asset into a physical target. In Bitcoin, the best encryption is total anonymity, and the cheapest firewall is keeping your mouth shut.
Stay humble, mine quietly, and let them think you own nothing.
About this one :
My OPSEC is airtight because nobody knows what I hold!