2026-01-01 04:02:19

A shocking heist just went down at a German bank. Thieves managed to drill into the vault and made off with tens of millions of euros in assets. The sheer audacity of the operation—bypassing physical security systems to access massive amounts of wealth—raises some serious questions about asset protection in traditional finance.

This kind of incident always sparks the same debate in crypto circles: centralized institutions holding your assets can be vulnerable to sophisticated theft, no matter how robust their security measures seem on paper. Whether it's bank vaults or exchange servers, the risk is real. It's a reminder of why many believe self-custody and decentralized alternatives exist in the first place.

The investigation is ongoing, but the incident highlights the eternal tension between convenience and security when it comes to storing significant wealth.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

17 Likes

Reward
17
6
Repost
Share

Comment

0/400

ColdWalletAnxiety

· 3h ago

Haha, this is the true face of traditional finance. Just a little poke and it breaks.

View OriginalReply0

ChainWallflower

· 3h ago

Haha, now it's all good. The flaws in traditional finance have been exposed again.

View OriginalReply0

AirdropHunterWang

· 4h ago

Haha, now traditional finance is also breaking down. Do you still dare to say that our crypto circle is unsafe?

View OriginalReply0

BlockchainDecoder

· 4h ago

From a technical architecture perspective, this incident actually reflects a seriously underestimated issue—the disconnect between physical security and digital security. It is worth noting that the "sense of security" in traditional financial institutions is often built on visual deception rather than genuine cryptographic guarantees. According to Vitalik's discussion in 2019, centralized systems inherently carry single point of failure risks, no matter how thick the walls you build. In contrast, while the self-custody model has a higher operational threshold, from a technical standpoint it indeed eliminates such risks—no one can bypass your private keys to steal assets. That said, let's not be too optimistic; the proportion of assets permanently lost due to self-custody failures is actually higher...

View OriginalReply0

fren.eth