What’s up with the current narrative?

I don’t understand the “self custody is dead” narrative. Self custody is not dead, ColdCard was not “hacked”. An exploit in the RNG for seed phrase generation was discovered and seed phrases were stolen through this exploit.

A hardware wallet’s most important feature is not its seed phrase creation, it’s just a convenient feature.

A hardware wallets purpose is to hold the seed phrase securely and sign transactions offline, transmitting only the transaction data.

Any FUD around self-custody is truly a head in the sand approach, as those who did everything to secure their wealth from a zero-trust perspective (both when it comes to institutions AND software) have nothing to worry about.

Obviously, ColdCard users (such as myself) need to reevaluate their financial relationship with this company and its products, but I don’t think this speaks to self-custody as a whole.