Zero Crypto at Home: Bankless in the Age of Wrench Attacks and Phishing | Jameson Lopp and Beau
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We have two security experts on the podcast today. In addition to myself, this is Ryan Sean Adams. David can't be with us today. Let me tell you why I'm doing this episode. There's been an increase in physical attacks on crypto investors. It's probably happened over the last year or two in particular. I could share a dozen or more stories. This is causing anxiety in the crypto community. Perhaps as a listener, it's causing you some anxiety as as you've seen some of these in the headlines. So this episode is a way to get back some control. This episode is about tactics. This is ways to harden y
Glad to be here.
Thanks for having me. Alright. As we start 2026, I'd like your opinion on the biggest threats facing crypto natives. How would you categorize them, and what would you say, Jameson?
Well, I mean, the biggest threat, I think, is the same as it's always been, which has been trusted third parties and just, you know, not taking custody of your own assets because there's just a million things that can go wrong in this space. And at least when you're taking control of your keys, you're you're limiting who can make all of those mistakes. Beyond that, privacy is a really big one. We'll get into that because I I basically consider privacy to be the outermost layer of security. If you can stop people at the privacy layer, then hopefully they don't ever even get to test any of your
Okay. I I just wanna drill into that for for a minute, Jamieson. So you think of all of the the, threats facing crypto holders and crypto natives today, some of the threats that we're gonna talk about, like brunch attacks maybe, are much more distant than the actual threat of cussing your crypto assets with some sort of third party. And by third party, you mean, like, an exchange, let's say, or a custodian, an FTX, or a BlockFi that you're not sure about, you still weigh those threats as as far higher than some of the ones we're gonna talk about around, you know, going bankless with your crypt
Yeah. Or or even doing self custody with, you know, novel smart contracts that haven't been sufficiently vetted and audited and stuff. And and, you the the problem with any of these is that they can all lead to catastrophic loss. But in in this sort of grand scale of things, if you look at the, like, total stats of losses and types of losses that have been happening in recent years, it's still mostly trusted third parties, poorly audited systems. And and even though rich attacks are on the rise, relatively speaking, when you compare them to the greater ecosystem of threats they're still very s
Okay. Bo, what would you say to this same question the the greatest threats facing crypto natives in 2026?
I would pretty much agree with Jameson's prioritization there I think especially with keeping in mind, we may be heading into a bear market. We're in a bear market, however you wanna think about it. You know, the risks like you mentioned of an FTX or, you know, last cycle, Robinhood had people forsell their Solana tokens, you know, near the market lows. Right? When you don't control your own tokens, a lot of bad stuff can happen ranging from, you know, an exchange trying to do the right thing from a regulatory perspective to an exchange going under. Jameson alluded to this a little bit, but, y
Actually, Bo, maybe that's a great place to start, and let's let's narrow the audience a little bit. So who you're talking about to on the Bankless podcast, as you guys probably know, is is we advocate the idea of going bankless. Right? And so that has been what we advocate for day one for some of
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