German bank experiences major heist as thieves breach vault with drilling equipment. The incident highlights critical vulnerabilities in traditional financial security infrastructure and raises important questions about asset protection methods. When millions disappear through physical breach, it underscores why many in the crypto community emphasize self-custody and decentralized solutions. The sophisticated nature of this vault penetration demonstrates that even institutional-grade security can be compromised with determination and proper tools. This serves as a reminder for anyone holding significant assets—whether in traditional banking or digital wallets—to evaluate their security protocols. The insurance and recovery process following such incidents can be lengthy and complex, adding another layer of concern for affected parties.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
OnlyOnMainnetvip
· 6h ago
Traditional finance doesn't work either; you have to control the keys yourself to feel secure.
View OriginalReply0
MemeKingNFTvip
· 6h ago
Traditional finance also crashes... This is why I have always been bearish. Self-custody is the way to go; on-chain assets will never fall.
View OriginalReply0
AirdropChaservip
· 6h ago
Haha, this is the current state of traditional finance. A drilling machine operation can wipe out a million, and you have to wait for insurance to compensate slowly... These days, managing your own money is still the most reassuring.
View OriginalReply0
ruggedNotShruggedvip
· 7h ago
Did the German bank get hacked? Haha, this old-fashioned traditional finance system finally got exposed... You still have to keep it yourself; it's more secure with the keys in your own hands.
View OriginalReply0
GasGoblinvip
· 7h ago
Haha, even the Germans' vaults can't hold up. Now the traditional banks' fig leaf has been torn off.
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)