Gushiken Yona
Shibarium devs are urging the crypto community to treat private keys like sacred vaults. The message: your key is your kingdom—and the moment you share it, you lose everything.
“In the rapidly evolving world of digital assets, your private key remains the ultimate guardian of your funds,” said John Doe, engineering manager at Shibarium, in a statement to The Shib Daily.
“As a developer deeply involved in this space, I want to emphasize that it should never, under any circumstances, be shared. To do so is to hand over complete control of your assets—a step that can lead to immediate and irreversible loss. Prioritizing the security of your private key is not merely a recommendation; it is fundamental to safeguarding your digital future.”
And he’s not alone. Shiba Inu blockchain developer Nika echoed the urgency in a detailed X thread, calling out a wave of deceptive tools asking users to paste their private keys—a move he described as “digital suicide.”
Shibarium Devs Warn About The Scam That’s Tricking Users Out of Everything
Nika’s message was direct: if any website, tool, or platform asks for your private key—it’s either malicious or dangerously built. There’s no valid reason, he said, for any legitimate app to require it.
“Not with a dApp, not with a friend, not even with a ‘bulk minting tool’ that promises speed,” he wrote. “If it asks for your private key, it’s a scam in disguise.”
He explained that secure interactions in Web3 should always be done through trusted signers, or hardware wallets. These tools enable transaction signing without ever revealing the actual key.
For those seeking automation or bulk minting solutions, Nika suggested safer alternatives like browser-based contract interaction extensions or hardware wallets that support scripting through APIs.
“There’s no need to expose your key,” he stressed. “And once it’s out, it’s gone forever—along with your funds.”
The Devastating Cost of Compromise
The consequences of exposing your private key can be immediate—and irreversible.
Just ask Brazilian crypto streamer Ivan Bianco, who accidentally revealed his key during a livestream. Within seconds, over $60,000 in MATIC and NFTs vanished. The theft happened in real time, right in front of his audience. While some of the assets were recovered, most were lost for good.
But it’s not just individuals. Institutions are losing millions to key-related vulnerabilities:
- Wintermute lost $160 million in a key generator exploit.
- Bitget suffered a $100 million breach in April 2025 after infrastructure failures exposed keys.
- Chainalysis reported in early 2025 that 43.8% of all stolen crypto in 2024—over $1.34 billion—was due to key exposure. A significant portion of that was traced to North Korean hacking groups.
Once compromised, a private key opens the door to unrecoverable digital theft.
Wallet Safety 101: Key Security Advice from Shibarium Devs
To help Shibarium users secure their wallets, both Nika and Doe emphasized simple, critical practices:
- Never share your private key—not in chats, not in forms, nowhere.
- Store seed phrases offline, ideally handwritten and secured.
- Use a hardware wallet like Ledger or Trezor for cold storage.
- Avoid browser extensions or tools that store or ask for keys.
- Double-check URLs, emails, and sites before inputting anything.
- Use 2FA and biometric authentication whenever possible.
“Self-custody gives you control,” noted security executive Guilherme Rennó, “but it demands extreme care.”
You Are the Last Line of Defense
There’s no password reset in Web3. No customer service hotline. No undo button.
The Shibarium devs are united in their message: the private key is everything. If it leaks—even once—you’re not just vulnerable. You’re exposed, emptied, and out.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
