{"id":5087,"date":"2024-01-25T09:19:22","date_gmt":"2024-01-25T02:19:22","guid":{"rendered":"https:\/\/wam.vn\/en\/?p=5087"},"modified":"2024-01-25T09:46:06","modified_gmt":"2024-01-25T02:46:06","slug":"ultimate-guide-to-secure-crypto-hardware-wallets-post-ledger-vulnerability","status":"publish","type":"post","link":"https:\/\/wam.vn\/en\/ultimate-guide-to-secure-crypto-hardware-wallets-post-ledger-vulnerability\/","title":{"rendered":"The PERFECT Cold Hardware Wallet &#8211; Explained"},"content":{"rendered":"<p><em><strong>TLDR<\/strong>: Exploring Crypto Wallet Security: From Ledger&#8217;s Flaws to Ideal Cold Wallets.<\/em><\/p>\n<p>This article is a summary of a You Tube video &#8220;The PERFECT Cold Hardware Wallet &#8211; Explained&#8221; by Whiteboard Crypto<br \/>\n<iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/S098zQKg2D4?si=kIUKQWCrmyGWK68D\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3>Key Takeaways:<\/h3>\n<ol>\n<li><strong>Cryptocurrency Transaction Basics<\/strong>: A crypto transaction typically needs a private key and a partially signed transaction to become a fully signed transaction.<\/li>\n<li><strong>Signature Uniqueness<\/strong>: The signature for each transaction is unique, depending on the transaction details and the private key.<\/li>\n<li><strong>Security Risks in Hardware Wallets<\/strong>: The Ledger Nano X, previously considered secure, was found capable of recreating private keys outside its encrypted hardware, raising security concerns.<\/li>\n<li><strong>Distrust in Closed Source Software<\/strong>: The discovery about Ledger Nano X highlights the risks of closed-source software in crypto wallets, suggesting it could act as a backdoor for stealing funds.<\/li>\n<li><strong>Search for the Perfect Cold Wallet<\/strong>: The quest for an ideal cold wallet involves balancing security with practicality, acknowledging that no solution is entirely risk-free.<\/li>\n<li><strong>Spectrum of Security<\/strong>: Security in crypto storage is a spectrum, from perfect (but impractical) methods like memorizing the seed phrase and doing calculations in one&#8217;s head, to less secure but more practical methods.<\/li>\n<li><strong>One-Time Use Devices<\/strong>: A secure but impractical method involves using a one-time device for transaction signing, then destroying it to prevent data extraction.<\/li>\n<li><strong>Encrypted QR Code Method<\/strong>: A more practical method involves encrypting the seed phrase, converting it to a QR code, and using a device to decrypt and sign transactions.<\/li>\n<li><strong>Cold Wallet Variants<\/strong>: Various cold wallet methods exist, from using encrypted private keys on devices like Trezor to more vulnerable unencrypted key storage methods.<\/li>\n<li><strong>Ledger&#8217;s Position and Alternatives<\/strong>: The video positions Ledger lower on the security spectrum due to its recent revelations and explores alternatives, including open-source and DIY solutions.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Exploring Crypto Wallet Security: From Ledger&#8217;s Flaws to Ideal Cold Wallets.<\/p>\n","protected":false},"author":3,"featured_media":5088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-5087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-39","description-off"],"_links":{"self":[{"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/posts\/5087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/comments?post=5087"}],"version-history":[{"count":2,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/posts\/5087\/revisions"}],"predecessor-version":[{"id":5098,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/posts\/5087\/revisions\/5098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/media\/5088"}],"wp:attachment":[{"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/media?parent=5087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/categories?post=5087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/tags?post=5087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}