DevCentral Connects - November 15, 2022 - DevSecOps in Blockchain

So I think there are a few lessons to be learned from the FTX disaster. First, is that anything crypto and blockchain related that cannot be verified with code or that is backed by cryptography is risky. This is why self custody of crypto is so important, the term "Not your keys, not your crypto" means exactly that. This is what we call third party risk. All major platforms have them... Including banks.

As for the hack, that could have been avoided by storing your funds on a multi-signature self custody platform, Bitcoin and Ethereum both have these type of solutions. The idea is holding your funds in a vault that requires multiple signers to withdrawal those funds. 

Additionally, One thing I live by is if its too good to be true, it probably is. 🙂 Don't trust, verify.