#虚拟资产监管 Seeing this SEC custody risk warning, I have a few heartfelt words to say. This is nothing new, but every time regulatory agencies come out with warnings, I am reminded of the blood and tears lessons learned in the crypto world over the years.

Hot wallets are convenient but easy to hack, cold wallets are secure but once the private key is lost, control is forever gone — I’ve fallen into both traps. Even more heartbreaking are third-party custody platforms that claim "we safeguard your assets," seemingly professional and reliable. But once they collapse or get hacked, your assets become ownerless. I’ve seen too many people store their coins on exchanges or under various so-called "wallet services," only to end up not knowing how they lost everything.

Now the SEC emphasizes that investors should research the true nature of custody institutions — whether they use hot or cold storage, whether they have real insurance, and how they handle bankruptcy and hacking — these questions sound "official," but in fact, they are reminders: don’t blindly trust promises, be sure to ask clearly. If a platform is evasive or cannot explain clearly, that’s the biggest warning sign.

On-chain assets are becoming more regulated, and banks are beginning to accept them, which should be a good thing. But my advice is: understand what you can control, identify which parts truly carry risks, and don’t be fooled by the surface of "regulatory friendliness." Self-protection always comes first.