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Title: I believe my wallet may be compromised, what should I do?!?! Post by: awesome31312 on September 30, 2014, 12:58:05 AM When I first started using Armory, I was fascinated by the idea of paper wallets, keeping my Bitcoins safe from internet thugs.
However, I made too many physical copies of the paper backup of my wallet, including one that I may have left in a hotel room, and two copies which I may have dropped on several occasions while shopping for groceries. How can I protect my Bitcoins? Title: Re: I believe my wallet may be compromised, what should I do?!?! Post by: etotheipi on September 30, 2014, 01:00:06 AM When I first started using Armory, I was fascinated by the idea of paper wallets, keeping my Bitcoins safe from internet thugs. However, I made too many physical copies of the paper backup of my wallet, including one that I may have left in a hotel room, and two copies which I may have dropped on several occasions while shopping for groceries. How can I protect my Bitcoins? Create a new wallet, make new backups, and send all your coins to it. Then all your old backups are useless. Also, if you want to have both redundancy and security, I recommend exploring the fragmented backup feature. Do 3-of-6, then losing two of them won't compromise your wallet (though at that point you might want to cycle to a new wallet, but at least you won't be at risk). Title: Re: I believe my wallet may be compromised, what should I do?!?! Post by: awesome31312 on September 30, 2014, 01:09:56 AM When I first started using Armory, I was fascinated by the idea of paper wallets, keeping my Bitcoins safe from internet thugs. However, I made too many physical copies of the paper backup of my wallet, including one that I may have left in a hotel room, and two copies which I may have dropped on several occasions while shopping for groceries. How can I protect my Bitcoins? Create a new wallet, make new backups, and send all your coins to it. Then all your old backups are useless. Also, if you want to have both redundancy and security, I recommend exploring the fragmented backup feature. Do 3-of-6, then losing two of them won't compromise your wallet (though at that point you might want to cycle to a new wallet, but at least you won't be at risk). I just looked up the fragmented backup feature. It seems to be a variation of Shamir's secret sharing scheme. Very impressive. I'm liking it a lot. Title: Re: I believe my wallet may be compromised, what should I do?!?! Post by: etotheipi on September 30, 2014, 01:11:38 AM I just looked up the fragmented backup feature. It seems to be a variation of Shamir's secret sharing scheme. Very impressive. I'm liking it a lot. More accurately, it is Shamir's Secret Sharing :) And we have integrated some testing tools so you can check that all/lots of different combinations of fragments restore your wallet successfully. Enjoy! |