The tech giant GMX was hit with a large financial penalty due to an exposed security flaw that left hundreds of accounts vulnerable to malicious hackers. GMX took immediate action to rectify the issue and protect its customers, but the hefty price has now been paid.
Mixin, a secure digital asset platform, has suspended deposits and withdrawals after a reported security breach caused losses of over $200M. The incident has caused a stir in the industry, with users concerned over the safety of their funds.
Advanced Bitcoiners understand the importance of a secure wallet, but many are still relying on seed phrases for backup. Upgrading to a Shamir Backup offers greater security and can greatly reduce the risk of loss or theft of funds.