Warning: Smartphone text prediction guesses crypto hodler’s seed phrase
Redditor Andre highlighted the ease with which hackers can use the text prediction feature to drain a user’s funds just by being able to first word out of the BIP 39 list. Seed phrases, a random combination of words from the BIP 39 list of 2048 words, act as one of the primary layers of security against unauthorized access to a user’s crypto holdings. But what happens when your ‘smart’ phone’s predictive typing remembers and suggests the words next time you try to access your digital wallet?Andre, a 33-year-old IT professional from Germany, recently posted on the r/CryptoCurrency subreddit....
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The fake Trezor app has been downloaded by at least 1,000 people on the Android’s app store Google Play. Trezor, a major hardware cryptocurrency wallet supplier, has warned its users about a fake Trezor application on Google Play.According to Trezor, the fake app is malicious and has no relation to Trezor or SatoshiLabs, a company that created the Trezor wallet. Announcing the news on Jan. 18, Trezor asked its clients to not install the malicious application, reminding users that they should never share their seed phrase with anyone.Warning to all Trezor owners using Android devices! This....
The safety of the recovery phrase is way more important than keeping the hardware wallet safe, according to executives at Ledger and Trezor. Hardware cryptocurrency wallets are known for granting users full control of their crypto and providing more security, but such wallets are prone to risks such as theft, destruction or loss.Does that mean that all your Bitcoin (BTC) is lost forever if your hardware wallet is lost, burned or stolen? Not at all.There are a number of options to restore cryptocurrency for someone who has lost access to their hardware wallet. The only requirement to....