After reviewing several stolen chat logs tonight, I did a quick recap as well. To put it simply, most of it isn’t “a technical failure”—it’s that the wallet setup doesn’t match the size of their own assets. If you only have a few thousand to tens of thousands of dollars and you don’t like to tinker, a hardware wallet is actually already secure enough. The key is: don’t take photos of the seed phrase, and don’t leave it on a cloud drive—if you really lose it, then you’re basically digging a hole for yourself. As your assets grow further and you start getting into DeFi permissions and all that messy stuff, I’d be even more inclined to use multi-signature: a small hot wallet for daily use, and multi-signature for the “vault” storage. Sure, it’s more troublesome, but it can isolate low-level disasters like fat-fingering a mistake or having your computer infected.

As for social recovery, it’s suitable for people who are afraid they won’t be able to remember their keys, and who also have a trustworthy circle (family/long-term partners). But the whole “trust” thing is rather mysterious—once the relationship turns sour, it gets awkward.

Also, I can’t help thinking about that wave of collapses in chain games: with inflation, studios, and coin prices spiraling all coming together, many people still hadn’t finished losing money before they first ended up losing their private keys… Anyway, don’t think it’s too much trouble. On the security front, the earlier you build the habit, the more peace of mind you’ll save yourself.