Episode
Your Bitcoin Isn’t Safe on an Exchange | Mt. Gox Victim Explains Why
- Podcast
- Bitcoin Success School
- Published
- Jan 24, 2026
- Duration seconds
- 2733
- Processing state
processed
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Summary
In this episode, I’m joined by Philipp Hoenisch, co-founder of Lendasat, a company building Bitcoin-backed loans in a non-custodial way. Philipp learned “not your keys, not your coins” the hard way where he lost Bitcoin during the Mt. Gox collapse. We unpack what that experience actually felt like, why so many people still leave life-changing money on exchanges, and what self-custody really is. We also explore Bitcoin-backed loans, how they work, and the real risks (especially custody risks and liquidation). Need help doing self-custody properly and securely? https://bitcoinsuccessschool.com Get 5% off your MicroSeed (Seedphrase Backup): https://microseed.io/?ref=fin Follow me on X (Twitter): https://x.com/FinCreighton Follow me on IG: https://instagram.com/fincreighton Subscribe for new episodes: https://youtube.com/@fincreighton Follow Phillip on X (Twitter): https://x.com/ lendasat Find Lendasat here: https://x.com/ lendasat