According to CoinMeta, after a $70 million security vulnerability was discovered in the hardware devices of Binance founder Zhao Changpeng ( CZ ), he called on cryptocurrency holders to spread their funds across multiple wallets. He stated, "Even hardware wallets can have vulnerabilities, and even those with a long history may be at risk. How to reduce this risk? Perhaps by spreading your funds across several wallets? This will introduce different levels of risk, as nothing is 100% secure. Stay informed and stay safe!" The vulnerability involved in this incident stemmed from a firmware flaw from March 2021, allowing attackers to reconstruct private keys offline and steal funds without actually touching the devices. Preliminary reports indicated that about 594 bitcoins (worth approximately $38 million at the time) were stolen within 25 minutes, but subsequent analysis revealed that the actual number of stolen bitcoins amounted to 1,082.65, worth around $70 million. The cold wallet manufacturer Coinkite has acknowledged this vulnerability and released an emergency firmware update.