Unlimited reading link for this article teaproject.org
According to this article posted in Jan 2020,
Hackers have got their hands on $11 billion in stolen cryptocurrency since 2011
If we focus on Bitcoin only, according to this article,
Analyst: 1,500 Bitcoins Lost Every Day, Less Than 14 Million Coins Will Ever Circulate
1,500 BTC EVERY DAY! If we convert to today’s BTC price, it is 27 Million USD a day, or $18709 every minute! When you spend 3 minutes reading my article, do the math you will know how much has been lost.
BTC is only one of the cryptocurrencies and cryptocurrency is only one type of digital asset. So you know I am not telling a joke.
Protecting your private key is the key, but it is also the hardest part
Blockchain technology is very secure by itself. Breaking into a computer or mobile phone is just low-hanging fruit for hackers. Not to mention there are so many phishing attacks that make stealing victim’s private keys so low-tech.
Protecting your private key is your responsibility unless you give your assets to a centralized exchange. Well, if you do, the only thing you can do is to pray for that exchange. I cannot say the centralized exchange is more vulnerable than your personal wallet, but it is such an attractive target for all attackers. BTW, there is a concept called “monkey business”. Good luck!
If you store your private key on your own, there are still a few choices. The strongest but hardest to use is a cold wallet which is usually called a paper wallet. I guess the name comes from that owners write the password down on a piece of paper…