What happens if someone gets your private key?

Upon realizing that your private key has been compromised or stolen, prompt action is crucial. The first step is to safeguard your assets by transferring them to a new wallet. This immediate measure is vital in ensuring that your funds are not accessed by unauthorized individuals.

Moving your assets to a new wallet effectively cuts off the thief's access, even if they possess your private key. This is because once the assets are transferred, the old private key becomes obsolete for those particular funds.

Creating a new wallet is one option to ensure the security of your assets. This involves generating a new private key and corresponding public address, which are not linked to the compromised key.

Alternatively, you can transfer your assets to an existing wallet that you are confident is secure. Ensure that this wallet has not been compromised and has strong security measures in place.

BTCC, a leading cryptocurrency exchange, offers a range of services to cater to your needs. These include spot trading, futures trading, and a secure wallet service. With BTCC, you can manage your assets with peace of mind, knowing that your funds are protected.