Los Angeles in flames: When cryptos also go up in smoke

In Los Angeles, the glowing sky of fires is devouring everything: homes, memories and, now, digital economies. Five days of hellish chaos have plunged the City of Angels into darkness. Among the victims, a 70-year-old retiree saw her crypto wallet go up in smoke. This drama reveals the unsuspected dangers for crypto investors and asks a question: how to protect your digital assets in the face of such disasters?

Losses in cryptos: when fire erases digital

The drama in Los Angeles, host city of Outer Edge in 2023, has consumed much more than hectares of forest. Among the losses, crypto investors, already burned by market fluctuations, this time find themselves ruined by a very real enemy: fire.

Monty, an X user, testifies:

“ My 70-year-old aunt lost everything in the fire, her apartment and her crypto wallet. She had no backup. I feel sick. »

The numbers are chilling:

• 15,000 hectares of land reduced to ashes;
• 200,000 residents evacuated;
• Crypto companies like BlockDaemon and SuperVerse hit hard.

This disaster underlines thecritical importance of digital security. Hardware wallets, like those from Ledger, protect against hackers, but what to do in the face of flames? Storing the recovery phrases elsewhere could have saved those savings and also followed the top 10 tips for securing bitcoin.

This sad episode is a stark reminder: investing in crypto is not just about avoiding scams, but also about preparing for the unexpected.

Crypto wallet: a small object at the heart of big dramas

The private keys of a crypto wallet are the gateway to your digital assets. Lose them, and it's over. In Los Angeles, several investors saw their assets disappear, lack of an external backup. This lack of preparation turns out to be dramatic.

While Ledger Nanos are practical and portable, they are not infallible. A recovery phrase engraved on a secure external medium – and ideally away from your home – is insurance against the unexpected.

Solidarity is however being organized: platforms like The Giving Block Or Givepact are now accepting crypto donations to help disaster victims.

Among the organizations supported:

• Los Angeles Fire Department Foundation;
• California Fire Foundation;
• Wildland Firefighter Foundation.

These initiatives show that, even in turmoil, the crypto community can mobilize to transform losses into hope.

Finally, in the face of this Californian tragedy, a lesson is essential: the security of a crypto wallet also requires solutions like metal wallets. In the event of a disaster, these private keys engraved on metal remain indestructible. Enough to preserve your digital assets, even in the heart of the flames.