During vehicle inspection, police body cam reveals suspect’s seed phrase

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Two police officers searched a suspect’s vehicle and found pieces of paper. One of the pieces contained seed phrases. News Collect this piece of crypto history as NFT. While self-custody may seem like the best way to protect one’s funds and assets, many people fail to recognize the dangers associated with physically storing the seed phrases. The State Police agency for Nevada conducted a search and made the suspect’s seed phrase available to the public. A viral video was posted on Twitter showing two officers searching the car of a suspect and finding pieces of paper. The suspect believed in self-custody and unfolded the pieces of paper to reveal the suspect’s seed phrases. This is a popular way to prevent online compromises. Source: TwitterThe suspect’s seed phrase became public after it was captured by an officer’s body cam. This Nevada video shows cops searching for a suspect and finding a seed term. Imagine your seed phrase being made public by an officer’s body cam! pic.twitter.com/vS2vm0xh7N– Jameson Lopp (@lopp) December 18, 2022
Changpeng Zhao, Binance CEO, saw the video and warned investors about the risks associated with different storage methods for cryptocurrencies. He stated that he was a proponent for free choice. You can hold your crypto in any way you like. Learn the risks of each method. The video sparked discussions about the best way to store seed phrases. The most popular suggestion was to memorize the seed phrase. Although the idea of memorizing the seed phrase, a unique combination 12 to 24 words, sounds safe, CZ pointed to the fact that the lack of inheritance and forgetfulness of the human brain are the two biggest problems when it comes to storing information on the “brain pocket.” The arrest of Sam Bankman-Fried, former CEO of FTX was seen as a signal to rethink long-term storage strategies for cryptocurrencies. The immediate reaction was to pull the funds out of crypto exchanges. However, the CEOs of Paxful, a crypto exchange, came forward to ensure that the fund’s safety. He promised to send weekly reminders for investors to move their funds from the exchange. “My sole responsibility is help and serve you.” Today, I am messaging all [Paxful] users to request that you move your Bitcoin to self custody. He stated that you should not keep your savings on Paxful or any other exchange and only keep what is traded here.