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CZ: Software Will Always Have Bugs, What Matters Is Who's Behind It
Binance co‑founder CZ shared a post about a user whose Coldcard hardware wallet was attacked, saying software always has bugs and the response of the development team matters; he recalled Trust Wallet's past pseudo‑random number generator flaw that caused about $12 million in losses, which the team later reimbursed.
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What happened
Binance co‑founder CZ shared a post about a user whose Coldcard hardware wallet was attacked, saying software always has bugs and the response of the development team matters; he recalled Trust Wallet’s past pseudo‑random number generator flaw that caused about $12 million in losses, which the team later reimbursed.
Confirmed
Global impact / market context
The comment highlights that crypto users rely on the ability of wallet teams to fix bugs quickly and compensate losses, which builds trust in the ecosystem and can affect adoption of those wallets.
Analyst inference
In a market where security breaches can trigger price drops and regulatory scrutiny, demonstrating strong post‑incident handling can differentiate wallet providers and influence investor confidence in related crypto projects.
Analyst inference
What to watch
- Whether Coldcard or similar hardware wallet developers publish detailed remediation steps, showing how they plan to prevent future attacks. Proposed
- If Trust Wallet or other software wallets announce new security audits or upgrades to random number generators, indicating proactive risk management. Proposed
- The reaction of crypto exchanges and investors to these security narratives, which could affect the perceived safety of assets stored in such wallets. Proposed