- Nearly 35% of MetaMask users don’t even back up their wallets, claims Charles Hoskinson.
- Human negligence is the primary driver of hacks in the crypto markets.
- Charles is the co-founder of Ethereum and the founder of the Cardano blockchain.
One Third of MetaMask Users Don’t Back Up Wallet
Charles Hoskinson claimed that nearly 35% of all MetaMask users never back up their wallets, leaving a serious flaw that could lock their accounts, even if the funds rightfully belong to them.
Further, non-backed-up crypto wallets make it easy for hackers to steal your crypto through phishing, keyloggers, and other methods.
Human Negligence Costs More Losses Than Others in Crypto
Data shows that the biggest threat comes from negligence, whether in crypto, tradfi, or any other field. This negligence has caused the worst kind of hacks. Influencer Jussy World shows that the best victims for crypto hacks are users over 50 who have a decent amount of funds but give the least time to read about security best practices. Most of them, nearly 80% among them, had no idea they were being scammed.
At the institutional level, the largest hacks taking place in crypto, such as the $1.5 billion Bybit hack, took place because the person who was responsible for the exchange wallet fell for a phishing attack.
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