Cryptocurrency Startup Loses Encryption Key for Electronice Wallet

The cryptocurrency fintech startup Prime Trust lost the encryption key to
its hardware wallet”and the recovery key”and therefore $38.9 million.  It is
now in bankruptcy.

I can’t understand why anyone thinks these technologies are a good idea.

https://www.schneier.com/blog/archives/2023/09/cryptocurrency-startup-loses-encryption-key-for-electronic-wallet.html

I mean, nobody could have anticipated that happening... [!!!]

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