The post Vitalik Buterin Urges Robust Wallets to Prevent Crypto Losses appeared on BitcoinEthereumNews.com.

Ethereum (ETH) co-founder Vitalik Buterin has called for improved wallet security to prevent crypto losses from non-theft incidents. His concerns highlight the need for wallet providers to address losses from forgotten passwords, lost devices, and software failures. The reminder comes as Ethereum advances security measures, including the Pectra upgrade and a recent external audit. Buterin Emphasizes Preventing Non-Theft Crypto Losses Vitalik Buterin has urged wallet providers to prioritize security solutions that mitigate non-theft-related crypto losses. The majority of crypto users face financial losses because of human errors combined with their inability to recall passwords or erase files accidentally. Users tend to conceal such incidents because they hold themselves responsible for unreported non-theft-related losses. The digital asset owner experiences various situations that result in the loss of access. Users regularly face the problem of lost passwords and end up upgrading devices while not having backups and they sometimes lose their security keys. According to him, preventing these risks must receive the same attention it takes to avoid hacking incidents. Wallet providers must develop user-friendly security measures to prevent accidental crypto losses. Buterin presented his opinion that enhanced asset recovery protocols would decrease these security issues. He also encouraged the crypto community to focus on long-term solutions that ensure asset safety. Ethereum Pectra Upgrade Faces Delays After Testnet Deployment Ethereum recently deployed the Pectra upgrade on the Holesky testnet but encountered unexpected finalization issues. The testnet experienced delays in the upgrade timeline because it could not establish agreement regarding block validation. The developers need to overcome technical problems before continuing their mainnet rollout. The Pectra upgrade aims to enhance Ethereum’s network security and performance. Ethereum conducted multiple audits and a formal verification process to ensure contract security. The review process analyzed and fixed significant security weaknesses of the system before deployment took…

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Filed under: News - @ March 2, 2025 1:11 am