Security has become a central concern for cryptocurrency users after a major hardware wallet incident exposed how a flaw in wallet infrastructure can put funds at risk even when users take steps to protect their assets. Against this backdrop, Xaman Wallet has emphasized its own approach to security, stating that protecting users’ XRP remains its first principle.
In a tweet, the self-custodial wallet provider for the XRP and Xahau ecosystems urged users to keep their XRP safe while questioning whether security claims by some wallet providers always match their actual practices.
Xaman stated that security is not simply a marketing message for the platform. According to the wallet provider, it serves as the starting point for every feature, update, and decision. The company also stressed that it does not take shortcuts in protecting users and said this approach reflects what self-custody should provide.
Keep your $XRP safe.
Lately, some wallet providers have proven that "security" is often just marketing.
At @XamanWallet it's the first principle.
Every feature, every update, every decision starts there. No shortcuts, not once, not ever.
That's what self-custody deserves.
— Xaman® Wallet 🪝 (@XamanWallet) August 16, 2026
Coldcard Incident Highlights Wallet Security Risks
The message comes shortly after a significant security incident involving Coldcard, a Bitcoin hardware wallet developed by Coinkite. Attackers began draining Bitcoin from wallets connected to affected Coldcard firmware on July 30, with the incident eventually involving thousands of addresses.
The problem traced back to a firmware issue that weakened the randomness used when generating wallet seeds. Coinkite confirmed that affected firmware could use a software-based fallback instead of the intended hardware random-number generator. This reduced the security of seeds generated under affected versions and allowed attackers to identify vulnerable wallets.
The scale of the incident increased as researchers analyzed the blockchain activity. Galaxy Research later estimated that approximately 1,367 BTC, worth around $89 million at the time of reporting, had been stolen from thousands of affected addresses.
The incident also demonstrated an important distinction between fixing software and fixing compromised wallet credentials. Updating affected Coldcard firmware does not repair a seed that was previously generated under vulnerable conditions. Users with affected seeds must create new ones and migrate their funds.
Self-Custody Requires More Than Ownership
Xaman’s message places this distinction at the center of its security position. Self-custody gives users control over their assets, but that control also depends on the security of the technology used to generate, store, and authorize transactions.
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For XRP holders, the statement reinforces the importance of examining how a wallet approaches security rather than relying solely on its self-custodial label. Xaman says security guides its product decisions from the beginning, rather than serving as an additional feature.
The Coldcard incident involved Bitcoin and does not indicate a vulnerability in Xaman or the XRP Ledger. However, it provides a recent example of why wallet security remains a critical issue across the cryptocurrency industry.
By reiterating that security comes first, Xaman is positioning its self-custodial approach around protecting users’ control of their XRP and maintaining that principle through future updates and product decisions.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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