Don't be cheap, buy a new hardware wallet

Words
194
Reading
1 min
Listen
Play
9y

Hi Steemit,

ledger.jpg

I just read an article about someone who got all his coins stolen from his hardware wallet. And some people decided to use this to spread fear about cryptocurrencies and use a catchy title like 'a man got all his lifesavings stolen from hardware wallet'. True in some way but misleading because of 'used' or second hand not mentioned.

The full story is the man bought a second hand wallet that has been used and therefore the recovery phrase has been initialized by the first owner of the wallet. And the coins were then stolen by you can guess who

People who understand and has been in the cryptocurrencies for a while would immediately know that this is the man's own fault and nothing is wrong with the hardware wallet and cryptocurrency security. If your seed has been seen or known by someone then your wallet can be hacked, everyone should know this.

It's a sad story and just in case someone is planning to buy a used wallet, please DON'T. The savings is just not worth the risk

Buy new, and keep the recovery phrase safe, and PIN to yourself

Don't be cheap, buy a new hardware wallet | Ecency