#加密资产安全与托管 Seeing the SEC's release of custody guidelines this time, I have to be honest—this is the warning we've been waiting for.

Remember those years? Exchanges going bankrupt, wallets being hacked, third-party custodians misappropriating assets... Every time, we only realized what "cost" really meant after the fact. This time, the SEC laid out the issues clearly, focusing on two main pitfalls: first, hot wallets being hacked; second, cold wallets potentially being lost forever. But the real killer is third-party custody—they lend out your coins, re-mortgage them, and put assets into a pooled account. When something goes wrong, everyone suffers.

My lesson is this: if your assets are not large, self-custody is actually the safest choice—you just need to learn how to manage private keys. But if you really need to use a third party, make sure you understand whether they re-mortgage assets and whether they can isolate accounts. Don't be fooled by the nonsense that "professional custody is more secure"; big platforms like Huobi, FTX, have all claimed that.

Living long in this space, I realize that the essence of security boils down to one word—"control." If you don't control your assets, you're gambling on others' morality and luck. Although this SEC guideline is a bit late, it's still better than paying tuition forever.