this post was submitted on 17 Dec 2023
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The FDIC is a scam. If JPMorgan or Wells Fargo failed they would not have enough to cover the loss. In fact they only hold ~2% of what they insure which would leave 98% of people with nothing. The only reason the FDIC is not bankrupt is because a cascade of banks have not failed all at once
The recent incident was a software supply chain attack. I am not aware of a bricked update but thats not saying much since i dont follow them closely
You lose all trust in them as you should and no longer use their products.
That is the point of a hardware wallet to hold your funds securely until you want to use them.
Your hardware wallet acts as savings and use a hot wallet as a spend account with less money in it.
I’m just saying what I saw over at https://old.reddit.com/r/ledgerwallet/search?q=Lost+my+btc+upgrade&restrict_sr=on&sort=relevance&t=all
Obviously I haven’t checked up on all of those, but it does seem to happen a bit. I’m not sure how frequently would be considered okay here, but that’s the sort of thing that shouldn’t happen.
Yeah, it should not occur. I have never used one, so do not know exactly how it works. But I have not lost any crypto in the 10 years I have been using crypto.