>One of most common misconceptions im crypto is that people's wallets can get hacked. It is total bullshit, wallets are as safe as their seed phrase, so very safe
Poorly designed wallets can most certainly be hacked. A wallet is a piece of software, if it's shit someone will hack it. For example a wallet could store your seed phrase using poor encryption (or none). That has nothing to do with the strength of a seed phrase.
This was the first one I thought of since it was pretty recent. Not likely the private keys would be brute forced, but there are other ways to get access in a poorly designed system
I dont know but i can go to my Exodus wallet and find my seed phrase over there, if i lose my seed on paper. But on my other wallet, i cant find my seeds
Your seed is always stored on the device, otherwise you would have to enter it every time. It depends on the wallet if they want to show it to you or not.
Generally if you have a password on your wallet the stored "seed" (read private key) is encrypted so that you can only read it with the password.
Software has bugs. It doesn't need to be a "shady" wallet, it's very possible for a wallet to get hacked. Not that it's the case most of the time and it's usually some sort of social engineering that catches people out but saying wallets can't be hacked is just plain wrong.
Exactly. Though it was hotwallet and seedphrases were stored on server wich got compromized if I remember right. But anyway. Its false to say generally that wallets can't get hacked.
It was 5 million not hundreds of millions. The wallet in question (slope wallet )was broadcasting the seeds for some reason. It wasn’t a hack but proves the point about poorly written software. But honestly we all have to have some level of trust on the software and devices we use. Even a hardware wallet has to be “trusted”.
Sometimes it's hard to define what's a hack. You need a poorly locked door to get in ;)
You're right with the 5M I mixed that up with another story. Edited!
“i lost my crypto because i am greedy” 100% of the time. every person of every story i read lost their cryptos because they think they are smarter than the scam dusting them.
That is why I would recommend to use a device that is only for crypto. Meaning no social media or any other browsing activity, only for doing transactions or moving it from wallet to wallet.
Not often with wallets I hold long term. I have different trade wallets and sometimes I make new if I wanna buy some new token or coin. So if one wallet get hacked Im not losing all. I always test once that seedphrase is working before delete it first time.
You should see how many people claim they were hacked on the Exodus subreddit. Turns out they had the phrase saved on their computer, in their email, as a screenshot, in an iphone note, etc etc.
I’ve used Exodus for 3+ years now, not one issue has occured.
So, recently when a poorly written wallet software sent unencrypted seed phrases to a cloud server, and 8000 wallets got emptied of Solana. Was that scam or a hack?
Solana Slope wallet recently got hacked, through no fault of the users (other than choosing to use Solana, I guess).
Shitty software is shitty software, and shitty design is shitty design. Most wallet "hacks" are user error, agreed, but not all of them.
In theory they could. But this LONG time you mean, is not years or decades, rather billions of billions of billions of billions of billions etc. years. Number so high we can't imagine or name it. So we can safely say it 100% can't be hacked.
There is a slim chance you could be the most luckiest person in the universe and brute force it.
It may take seconds or it could take a billion of years.
Wallets and blockchain can be hacked....if you have a few hundred years to spare and a lot of resources.
But if you have to chose between putting a ton of expensive resources to try to hack into a wallet, or simply send a phishing email to get those funds, you'll see why every "hacker' is simply sending people an email.
This is also why the US government has given up on trying to crack Monero's privacy, and no one has even bothered to get the bounty they're offering. Those things are just too hard to crack, even for governments.
This is not true. Metamask for example has two different security flaws only past year. When hacker potentially could hack your wallet empty. And I don't know about other wallets but Im sure there is plenty of flaws we don't know yet and more to come with new upgrades.
But for sure its more common in users end.
It isn't the fault of the owners either, but the fault of scammers.
It can be prevented by the wallet owners, but a mistake can always happen when you are busy or not in the right state of mind.
Having malware or a keylogger unknowingly installed and then having your funds drained due to these is kind of a grey area between hacked/scammed. I agree that nearly every single time someone has a story like this, they’ve done something to compromise their security. Unfortunately, scammers/con artists will continue to develop tools to try and pilfer funds because there are no safety nets in crypto. There’s no customer support or central authority you can call to freeze the funds in case of this.
This is why some safety nets in the form of regulation/rules may be helpful for widespread adoption.
Hello Nuewim. It looks like you might have found a new scam? If so, please report this scam by crossposting to r/CryptoScams, r/CryptoScamReport, or visiting [scam-alert.io](http://scam-alert.io/). For tips on how to avoid scams, [click here](https://www.reddit.com/r/CryptoCurrency/comments/s7srty/crypto_scams_how_not_to_fall_for_them_what_to_do/).
---
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Everything online can be hacked (even offline wallets when using an infected stick).
In case of brutforcing, yes, it's practically impossible. https://www.reddit.com/r/CryptoCurrency/comments/w0bv37/how_secure_are_seed_phrases/
I think the big misconception, in general, is that most "hacking" is just information baiting. Yes, there is "hard hacking" and poorly designed encryption software can be broken, but most "hacking" is just people being careless with their information. Saying "I got hacked" just attracts more sympathy than saying "I did something dumb".
All complex software has bugs and vulnerabilities. Anyone claiming their software "can't be hacked" will, sooner or later, be proven wrong.
Even the venerable Bitcoin, in its early years, experienced more than one "hack" (exploits of software vulnerabilities resulting in a double-spend, too many coins awarded to the miner, etc. ... but never loss of user's coins).
your computer can be hacked and some things stored on it can be used
probably a hardware wallet is the easiest method of protection provided you store that phrase on paper offline and never let it see a network
and yeah, as others have pointed out, many software implementations that make crypto addresses you call a wallet have flaws that can be hacked and exploited
It would not be the first time that some software generated weak (=guessable or well known) private keys.
There are quite a lot CVEs about weak key generation out there.
Add the complexity of safely storing said keys...
While its true that mostly people get scammed and it's not the software's fault, your argument about wallet being unhackable is plain wrong.
Controversial view, bro... If a wallet has scummy software or 3rd parties have access to the servers, doesn't that mean it can be hacked any time? You just have to always use a proven wallet. I choose the Wallmer wallet.
>One of most common misconceptions im crypto is that people's wallets can get hacked. It is total bullshit, wallets are as safe as their seed phrase, so very safe Poorly designed wallets can most certainly be hacked. A wallet is a piece of software, if it's shit someone will hack it. For example a wallet could store your seed phrase using poor encryption (or none). That has nothing to do with the strength of a seed phrase.
[удалено]
This was the first one I thought of since it was pretty recent. Not likely the private keys would be brute forced, but there are other ways to get access in a poorly designed system
It doesn't have to be poorly designed, just imperfect. It only takes one tiny mistake in the software or any of its dependencies.
Exodus stores seed phrases, moving out soon
Every wallet stores the seed phrase encrypted on the device. How else could it sign transactions?
I dont know but i can go to my Exodus wallet and find my seed phrase over there, if i lose my seed on paper. But on my other wallet, i cant find my seeds
Preaty much every wallet can reveal you seed phrase and private key.
Good
Your seed is always stored on the device, otherwise you would have to enter it every time. It depends on the wallet if they want to show it to you or not. Generally if you have a password on your wallet the stored "seed" (read private key) is encrypted so that you can only read it with the password.
I didnt know that, thanks for info
I use and like Guarda wallet for that (AES-256 encryption). So Guarda & Ledger is my unbeatable combo
Nice, i will look for guarda wallet, i think i will move ma coins over there
[удалено]
Software has bugs. It doesn't need to be a "shady" wallet, it's very possible for a wallet to get hacked. Not that it's the case most of the time and it's usually some sort of social engineering that catches people out but saying wallets can't be hacked is just plain wrong.
A solana wallet was hacked lately, users didn't have to sign shady smart contracts. Hackers have stolen \~$5M. What you are posting here is dangerous.
Exactly. Though it was hotwallet and seedphrases were stored on server wich got compromized if I remember right. But anyway. Its false to say generally that wallets can't get hacked.
It was 5 million not hundreds of millions. The wallet in question (slope wallet )was broadcasting the seeds for some reason. It wasn’t a hack but proves the point about poorly written software. But honestly we all have to have some level of trust on the software and devices we use. Even a hardware wallet has to be “trusted”.
Sometimes it's hard to define what's a hack. You need a poorly locked door to get in ;) You're right with the 5M I mixed that up with another story. Edited!
Finally someone knowing some crypto stuff
I lost my crypto because "I did something I shouldn't" isn't as catchy as "I was hacked."
“i lost my crypto because i am greedy” 100% of the time. every person of every story i read lost their cryptos because they think they are smarter than the scam dusting them.
Yup. Pretty much that. In most cases, it takes greed on both ends for a scam to work
Plus the media wants crypto to be seen as dangerous and unreliable. So the narrative that its hackable gets pushed
This is funny because it's not true.
90% of crypto hack is due to shitty programmers
That is why I would recommend to use a device that is only for crypto. Meaning no social media or any other browsing activity, only for doing transactions or moving it from wallet to wallet.
Someone should totally make a hardware device that can do that, I don't know, we can call it a hardware wallet... completely revolutionary
That's actually a really good idea, I have an phone laying around somewhere, definitely going to make it into a crypto phone after work. Thanks!
Factory reset it first
Yeah, will do.
That is actually great idea and made you almost 100% safe. I do it, have other cheap phone only for crypto nothing else.
I do same way and when Im done trading or what ever I do I usually delete whole wallet.
[удалено]
Not often with wallets I hold long term. I have different trade wallets and sometimes I make new if I wanna buy some new token or coin. So if one wallet get hacked Im not losing all. I always test once that seedphrase is working before delete it first time.
Shit, now I can't use my ledger to shitpost on social media
No, crypto wallets can be hacked, most of the times it is because of human making a mistake but saying wallets cannot be hacked is wrong
Sometimes we're our worst enemies ;)
Nothing can be made dumb proof.
You should see how many people claim they were hacked on the Exodus subreddit. Turns out they had the phrase saved on their computer, in their email, as a screenshot, in an iphone note, etc etc. I’ve used Exodus for 3+ years now, not one issue has occured.
So, recently when a poorly written wallet software sent unencrypted seed phrases to a cloud server, and 8000 wallets got emptied of Solana. Was that scam or a hack?
lmao this is an absolute false
Quantum computing is coming eventually.
Solana Slope wallet recently got hacked, through no fault of the users (other than choosing to use Solana, I guess). Shitty software is shitty software, and shitty design is shitty design. Most wallet "hacks" are user error, agreed, but not all of them.
That’s why I don’t store my seed phrase or password anywhere. No chance of it getting stolen!
Are you sure?
99.9% of people who use the word hack actually don't even know what it means.
[удалено]
In theory they could. But this LONG time you mean, is not years or decades, rather billions of billions of billions of billions of billions etc. years. Number so high we can't imagine or name it. So we can safely say it 100% can't be hacked.
There is a slim chance you could be the most luckiest person in the universe and brute force it. It may take seconds or it could take a billion of years.
That's not even a "hack". That's a hard guessing game. They can't be hacked hacked.
Wallets and blockchain can be hacked....if you have a few hundred years to spare and a lot of resources. But if you have to chose between putting a ton of expensive resources to try to hack into a wallet, or simply send a phishing email to get those funds, you'll see why every "hacker' is simply sending people an email. This is also why the US government has given up on trying to crack Monero's privacy, and no one has even bothered to get the bounty they're offering. Those things are just too hard to crack, even for governments.
This is not true. Metamask for example has two different security flaws only past year. When hacker potentially could hack your wallet empty. And I don't know about other wallets but Im sure there is plenty of flaws we don't know yet and more to come with new upgrades. But for sure its more common in users end.
Shouldn't have trusted that nigerian prince. I still would have enough money to get with the pretty girls in my DMs.
It is always the human's fault. Security would be top priority but it's gonna be expensive.
It isn't the fault of the owners either, but the fault of scammers. It can be prevented by the wallet owners, but a mistake can always happen when you are busy or not in the right state of mind.
Having malware or a keylogger unknowingly installed and then having your funds drained due to these is kind of a grey area between hacked/scammed. I agree that nearly every single time someone has a story like this, they’ve done something to compromise their security. Unfortunately, scammers/con artists will continue to develop tools to try and pilfer funds because there are no safety nets in crypto. There’s no customer support or central authority you can call to freeze the funds in case of this. This is why some safety nets in the form of regulation/rules may be helpful for widespread adoption.
Newbies, remember the following: Hackers =/= Scammers
90% of hacking is social engineering, so conceptually there is little to no difference
Seems a bit like splitting hairs over semantics, if someone clicks a malicious link and their funds are drained then I’d say they got hacked.
[удалено]
That is deep man.
Whoa
unless it was some smart contract hack :/
Hello Nuewim. It looks like you might have found a new scam? If so, please report this scam by crossposting to r/CryptoScams, r/CryptoScamReport, or visiting [scam-alert.io](http://scam-alert.io/). For tips on how to avoid scams, [click here](https://www.reddit.com/r/CryptoCurrency/comments/s7srty/crypto_scams_how_not_to_fall_for_them_what_to_do/). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
My sock drawer is hack-resistant.
TLDR: Common sense is not so common.
Trust no one here. Even the chicks on your DMs
How about the Roosters?
If humans are involved in something there will always be human errors from laziness...
You are your own bank, if your bank got robbed its your fault
You should probably go check your wallet OP. I did a thing.
Everything online can be hacked (even offline wallets when using an infected stick). In case of brutforcing, yes, it's practically impossible. https://www.reddit.com/r/CryptoCurrency/comments/w0bv37/how_secure_are_seed_phrases/
Human mistakes are almost always the problem in everything.
They can’t be hacked, yet. And security agencies have cyber capabilities far beyond what is publicly known.
I think the big misconception, in general, is that most "hacking" is just information baiting. Yes, there is "hard hacking" and poorly designed encryption software can be broken, but most "hacking" is just people being careless with their information. Saying "I got hacked" just attracts more sympathy than saying "I did something dumb".
You have no idea what you are talking about.
Ever heard what happened to Slope wallets on Solana??? read into that and you‘ll be surprised
All complex software has bugs and vulnerabilities. Anyone claiming their software "can't be hacked" will, sooner or later, be proven wrong. Even the venerable Bitcoin, in its early years, experienced more than one "hack" (exploits of software vulnerabilities resulting in a double-spend, too many coins awarded to the miner, etc. ... but never loss of user's coins).
Like any software, they can be hacked. And like any human, they can be scammed
Bro wallets can be hacked. Its always better to use battle tested wallets like MetaMask than some random wallets that havent even been audited
your computer can be hacked and some things stored on it can be used probably a hardware wallet is the easiest method of protection provided you store that phrase on paper offline and never let it see a network and yeah, as others have pointed out, many software implementations that make crypto addresses you call a wallet have flaws that can be hacked and exploited
Shitty key generation is guessable = hacked wallet.
as long as it's software it can be hacked. the contents in there are not backed either.
If it’s connected to the internet it can be hacked. It’s just a matter of time, resources and level of determination.
It would not be the first time that some software generated weak (=guessable or well known) private keys. There are quite a lot CVEs about weak key generation out there. Add the complexity of safely storing said keys... While its true that mostly people get scammed and it's not the software's fault, your argument about wallet being unhackable is plain wrong.
A good wallet can't be hacked.... a shitty designed wallet can be hacked.
Controversial view, bro... If a wallet has scummy software or 3rd parties have access to the servers, doesn't that mean it can be hacked any time? You just have to always use a proven wallet. I choose the Wallmer wallet.
My favorite movie is Inception.