Somehow it is both embarrassing and concerning that crypto czar @cz_binance leading #Binance needs to have wallet basics explained to him.
A hardware wallet mainly protects the private key by making sure it never leaves the device.
What it does not protect against is the human factor: someone entering their seed phrase on a fake site, using a counterfeit Ledger Live app, or approving a malicious transaction themselves. Ledger has warned about exactly these phishing methods for a long time.
So either this was a shitpost with a quiet little jab at Ledger and some subtle positioning for the Binance mafia, or he really is as clueless as many people think.
So once again to anyone:
you are often the weakest link in the chain. Be careful what you type in and where and why. Always.
And if you decide to keep your money on a scam CEX, understand that those coins and tokens do not belong to you.
Stay vigilant.
