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The gift and curse of #Crypto š«£
Remember the good old days of 2021-22, when insane crypto stories dropped daily? Well, this week gave us a shot of peak crypto nostalgia, courtesy of the new tech outlet 404Media, which brought us the tale of infrastructure startup Prime Trust. In 2018, the company decided to deposit $38.9 million in cryptocurrency on a hard wallet, which are considered the safest way to store crypto, since theyāre not connected to the internet. To make sure Prime Safeās fortunes were kept safe, the company created a snazzy metal plaque engraved with the hard driveās password. Guess what happened next: Reader, they lost the plaque. Over time, as customers looked to cash out, the company scrambled to find $76 million in other funds to fulfill withdrawal requests. Eventually Prime Trust couldnāt keep the jig up, and this week filed for bankruptcy. But donāt worryāin its filing, the company promised it wonāt happen again
