Hard to really condemn these guys. They're respected and they have the wealth, so people listen to them. I mean, look back on old threads on this forum and you have mods and devs recommending Mt Gox as safe and trusted. Relative to conditions at the time, they were right and speaking from personal experience.
Others swear the safest is BitGo's custodial service. Does it get any more secure than a vault deep inside mountains? Probably not, if you're trying to resist deliberate attacks. I still believe in personal security and behaviour as the first measures we all need to take. But if someone tied me to a chair and tortured me for my seed, I probably would give it up. I'd give a fake one first and then they'd get mad, break every bone and get it out of me.
But since I don't own enough to make people go after me, it's a problem I'll think about later on.
I absolutely think this title could have been rephased to "Don't keep much coins on exchanges". This is because it is impossible for a cryptocurrency trader not to have coins on various exchange platforms at a particular point in time. Also, it is not rocket science, this advise is making the rounds because your funds are definitely more safe in your personal wallet. The laziness embedded in some traders definitely makes them leave large amount of coins on exchanges over a long period of time and this could attract the attention of corrupt officials or scammers.
Yeah we all use 3rd-party services so need to keep coins at some point. The idea here is, don't leave your coins somewhere if you don't need to. As soon as your business is done, withdraw.
