Vitalik Buterin Warns about Security of Cryptocurrency Wallets

Vitalik Buterin, a Canadian-Russian programmer and Co-founder of the world’s second-largest cryptocurrency, Ethereum, asked the crypto community to talk more about security. He said that user-friendly wallets are needed because current wallets are insecure for non-technical users.

During a conversation at the Latin American Bitcoin Conference, Buterin mentioned that the cryptocurrency market did not give much importance to the security side and that is why it is much easier to lose a large amount in digital assets if a cryptocurrency wallet breaks.

The presenter asked Buterin to outline key issues in the crypto industry, he said: “In my opinion, we don’t talk about the security issues enough because no one is willing to admit they lost $200,000, because if you admit you lost $200,000, you look like an idiot.”

He added that due to the reason that the security issue did not get much attention from the industry influencers, a lot of people believe it is a small problem when people lost billions of dollars in stolen crypto assets worldwide.

“The fact is that even if you are a super genius or capable of being really careful, the reality is a system that requires you to expend less effort on not losing your stuff is a better system.”

Ethereum 2.0

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