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Vitalik Buterin, Ethereum’s
$2,202.46
co-founder, is pushing for stronger wallet security solutions to help users avoid losing access to their digital assets.
Buterin believes that personal losses due to forgotten passwords, lost devices, or lack of backups are just as concerning but often overlooked, while high-profile hacks often dominate the conversation—such as the recent $1.4 billion theft from Bybit
$1.79B
.
In a February 28 post on X, Buterin highlighted how easy it is to lose access to funds, “Software bug, forgotten password, lost device, paper wallet burned down in LA fire, upgraded device without backing up data … lots of ways for that to happen”.
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He also pointed out that many people feel too embarrassed to talk about these losses because they blame themselves.
For years, Buterin has been an advocate of social recovery—a method that allows users to regain access to their wallets with the help of trusted individuals or institutions.
In May 2024, He shared that he personally stores most of his crypto in a multisig Safe wallet, a system that requires multiple approvals to access funds.
Meanwhile, in January 2021, he proposed a system where “guardians” could step in when a user was locked out. These guardians could be friends, family members, or institutions, ensuring that assets remain accessible even if primary credentials are lost.
On February 27, MetaMask, a self-custody crypto wallet, shared its near-term product roadmap. What are they? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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