Vitalik Buterin wants revolutionary wallet to prevent crypto loss

After the biggest crypto-hack ever, in which the infamous North Korean Lazarus made almost $ 1.5 billion from Crypto Exchange Bybit, security is again in the spotlight. But according to Ethereum (ETH) founder Vitalik Buterin, there is still a big problem lurking, one that is much less talked about: crypto loss due to human errors.

Smarter wallets

Buterin says in a recent X Post that the industry should go much further than just hack prevention. Wallets are now mainly designed to keep hackers out, but what if you lose access to your crypto yourself? A forgotten password, a crashed laptop or a mistake when storing your keys, it can happen to anyone.

The Ethereum founder emphasizes that this problem often remains underexposed, because victims rarely talk about it out of shame. Yet it is a serious big problem in which millions of crypto are lost forever. That is why Buterin argues for smarter wallet solutions that not only protect against hackers, but also offer a safety net for users who accidentally lose access to their crypto.

Millions of Bitcoin disappeared due to negligence

Huge quantities have also been lost at Bitcoin (BTC). A significant part of the 21 million BTC that will ever be in circulation is now unreachable. In the early days, the currency was practically worthless, so that many early users were carelessly with their wallets. The result? Millions of Bitcoin have disappeared forever.

One of the most bizarre stories is that of James Howells, who lost a hard drive with 8000 Bitcoin in 2013 – nowadays good for hundreds of millions of euros. His ex-partner accidentally threw the disk away, after which he landed on a landfill. Despite legal attempts, Howells has never found his digital fortune. Now that the landfill closes within two years, he is even considering buying the entire site to get his lost bitcoin back.

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