Is Your Crypto Wallet SAFE? This Report Will SHOCK YOU!!
đ Open sourcing the code to crypto wallets does not guarantee security, highlighting the need for additional measures to protect against hacks and exploits.
đ° The recent Atomic wallet hack resulted in the theft of between 35 and 100 million dollars of crypto, affecting approximately one percent of active user balances.
đŁ Atomic wallet scored low in terms of security due to vulnerabilities, highlighting the importance of choosing a wallet with high security measures.
đ€Ż The report reveals that fully open source crypto wallets have a considerably higher risk of getting hacked compared to partially open source wallets, which goes against the common belief that open source is more secure.
đ A hardware wallet doesn't guarantee that the wallet won't be hacked or exploited, but it almost guarantees that you won't lose any of your crypto if a hack or exploit does occur.
đŒ The authors argue that all crypto wallets should force users to write down their private seed before using the wallet, emphasizing the importance of security measures.
đĄ Even the best crypto wallets may not have bulletproof security, so it is crucial to keep your crypto on a hardware wallet to minimize the risk of theft.
