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Wrapped assets
A wrapped asset is a stand-in. A token on one chain claims to represent a coin locked somewhere else. Someone, or some contract, can fail to unlock it.
The stand-in
You do not hold the original coin. You hold a claim. The claim is only as good as the lockbox and the people who watch it.
Who can unmake it
A custodian can refuse, get robbed, or freeze a list of addresses. A bridge contract can be buggy. When the wrap breaks, the stand-in price splits from the original.
Say the name of the wrapper out loud. If you only know the ticker, you do not know what you hold.
Check yourself
Is wrapped bitcoin the same as bitcoin in your own wallet?
No. It is a claim on a lockbox.
After this you can name the lockbox behind a wrapped coin before you treat it as the original.