A non-custodial wallet is a key measure against hacking. On the blockchain, hackers often wait for the moment when two keys appear simultaneously. In just that brief instant, they can steal cryptocurrencies.
Before launching an attack, hackers monitor transaction data on the blockchain to identify targets—usually wallets with large balances. These are often found on centralized exchanges. To reduce this risk, we need non-custodial wallets. By decentralizing assets from exchanges to individual users, we can minimize the risk of large-scale hacks.
Imagine if a bank were hacked...
Crypto wallets are like being able to withdraw your own cash directly from an ATM.
If they outlaw this technology, they're essentially giving hackers the green light to steal large amounts of money.