Hanzo ㊗️
Hanzo ㊗️|2月 08, 2026 15:17
🚨 $8.5B RISK NO ONE WANTS TO TALK ABOUT wBTC holds $8.5 BILLION in Bitcoin. All custodied by BitGo + BiT Global multi-sig across US, Singapore, and Hong Kong. Most people don't think twice. But here's what you're actually trusting: The custody chain: > BitGo's operational security > BiT Global's controls (Hong Kong jurisdiction) > Multi-sig key management across 3 countries > That regulators won't coordinate seizures In August 2024 BitGo announces partnership with Justin Sun's BiT Global. MakerDAO's instant response? Offboarded $155M in wBTC collateral. Immediately. Why? Because custody = trust. And trust in crypto = risk. Here's what people miss: wBTC isn't Bitcoin. It's an IOU from custodians holding Bitcoin. @PortaltoBitcoin to Bitcoin built the alternative - native atomic swaps: > Real BTC stays on Bitcoin mainnet > HTLCs coordinate trustless swaps > If anything fails -> automatic refund > ZERO custody. Ever. Validators coordinate matching, but they CANNOT seize funds. They can censor or delay, but can't steal. Portal's mainnet went live September 2025. BitScaler handles native cross-chain swaps without wrapping. 18M+ testnet transactions proved it works. So here's the question: What happens to that $8.5B when trustless alternatives scale? DYOR. Start by asking who actually controls your Bitcoin.(Hanzo ㊗️)
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