Former stockbroker, commonly known as the “Wolf of Wall Street,” Jordan Belfort, has admitted falling victim to a crypto hacking incident while stressing on the importance of regulating the sector.
According to Belfort, he once lost about $300,000 worth of digital currencies stored in the Metamask wallet after a hack,” he said during an interview with Yahoo Finance on November 21.
However, Belfort noted that since the incident, he stores his assets in a cold storage instead of the exchange’s hot crypto wallets.
“I don’t have any of my money in any crypto on exchanges. It’s all off in a cold storage wallet, so to speak, with Ledger. So I got hacked, actually. I lost about $300,000 on MetaMask last year. This is a very, very, very tough industry right now because it’s really literally like the Wild West,” Belfort said.
Shunning exchange wallets
It is worth noting that the focus on storing crypto on exchanges emerged after customers lost funds in the FTX coll
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