Posted this last time and posting this again as a PSA:
A bit of a side-note, but this needs to be said: articles like these should be a good wake-up call for crypto users that are still using web-based wallets (and their accompanying apps for mobile platforms) especially for storing LARGE amounts of cryptocurrency -- you're essentially trusting a third-party exchange (with many of them using opaque ToS and PP) with your private keys and as a result your funds (especially those platforms that don't use multi-sig architecture). And crypto exchanges' data breaches/hacks is getting more common by the day. [0]
Even Bitcoin.org has stopped recommending web-based wallets, like they were doing just a couple of years ago.
The best alternative is hardware wallets, but a good middle-ground is using self-managed, 'semi-cold' software wallets like Electrum, Armory, etc. [1][2]
A bit of a side-note, but this needs to be said: articles like these should be a good wake-up call for crypto users that are still using web-based wallets (and their accompanying apps for mobile platforms) especially for storing LARGE amounts of cryptocurrency -- you're essentially trusting a third-party exchange (with many of them using opaque ToS and PP) with your private keys and as a result your funds (especially those platforms that don't use multi-sig architecture). And crypto exchanges' data breaches/hacks is getting more common by the day. [0] Even Bitcoin.org has stopped recommending web-based wallets, like they were doing just a couple of years ago.
The best alternative is hardware wallets, but a good middle-ground is using self-managed, 'semi-cold' software wallets like Electrum, Armory, etc. [1][2]
[0] https://selfkey.org/list-of-cryptocurrency-exchange-hacks/
[1] https://www.buybitcoinworldwide.com/wallets/online/
[2] https://bitcointalk.org/index.php?topic=1741339.0