Binance Founder CZ Says Hardware Wallets Can Also Have Bugs, No Method Is 100% Safe

Binance founder Changpeng Zhao urged investors to remain cautious following a recent cold-wallet hack, saying hardware wallets are also vulnerable to security flaws.

Writing on X, formerly known as Twitter, on Aug. 1, Zhao said hardware wallets can contain bugs and that even wallets used for a long time can develop defects. Splitting assets across multiple wallets may be one way to respond, he added, though that approach also comes with other risks.

"There is no method that is 100% safe," Zhao wrote. He urged investors to stay up to date on the latest security information and manage their assets safely.