The Primary Causes of Asset Loss

A new study by Oobit has revealed a sobering reality for the digital asset space: More than one-third of cryptocurrency holders, or 35%, have lost access to a wallet or account at some point. The data suggests the greatest threat to crypto wealth is not sophisticated hacking, but simple human error.

Forgotten passwords or login failures were cited by 33% of 1,000 U.S.-based crypto holders who participated in the study, followed by 21% who lost their seed phrases and 20% who lost two-factor authentication access. Beyond personal error, external factors like platform bankruptcies accounted for 16% of access losses. Amram Adar, CEO of Oobit, noted that the biggest mistake people make is not choosing the…