Hardware wallets are unsafe

[ransomer]

After recent rumours of security loopholes in Electrum, another hardware solution is facing problems:

http://www.coindesk.com/hardware-vulnerability-could-compromise-bitcoin-private-keys/

Keeping bitcoins safe is really problematic.

[LFC_Bitcoin]

After recent rumours of security loopholes in Electrum, another hardware solution is facing problems:

http://www.coindesk.com/hardware-vulnerability-could-compromise-bitcoin-private-keys/

Keeping bitcoins safe is really problematic.

Most bitcoin loss is due to user error rather than software or wallet error/failure. People need to educate themselves to keep their bitcoins safe. People need to run good anti virus software on their computers & not go on dodgy websites. I honestly think so many bitcoins have been compromised due to user error.

[unamis76]

Electrum has no (known) security loophole: people were just downloading it from a phising site, without verifying the files.

As for hardware wallets... This chip is used in them? I think that's not clear on the article. I thought Trezor was 100% custom design... But I might be wrong.

After recent rumours of security loopholes in Electrum, another hardware solution is facing problems:

http://www.coindesk.com/hardware-vulnerability-could-compromise-bitcoin-private-keys/

Keeping bitcoins safe is really problematic.

Most bitcoin loss is due to user error rather than software or wallet error/failure. People need to educate themselves to keep their bitcoins safe. People need to run good anti virus software on their computers & not go on dodgy websites. I honestly think so many bitcoins have been compromised due to user error.

Good post, that's exactly what happens. Many hardware exploits require personal access to the device. These devices should either be carried all the time by people or simply stashed away from prying eyes... Software has also many things to blame users who don't do their due diligence to secure things properly.

[anderson00673]

Maybe I missed it, but they don't say which HW wallets are using this?  Are all of them?  Well, I guess it is always a good idea to not keep all your coin in one place, no matter how secure it seems.

[lorylore]

If hardware wallets are unsafe what should we use then? we cant go for anything else, just using the cloud lol

[yayayo]

Maybe I missed it, but they don't say which HW wallets are using this?  Are all of them?  Well, I guess it is always a good idea to not keep all your coin in one place, no matter how secure it seems.

Nothing offers 100% security. When it comes to hardware wallets, properly generated paper wallets offer the best security.

Personally I don't see the point in using hardware wallets like Trezor if you can't use them as a standalone device to send and receive transactions. There's no benefit in using an electronic device that might fail just to validate transactions. You could simply store most of your Bitcoin in paper wallets and have a smaller amount in an ordinary software wallet - risk is easily manageable this way.

ya.ya.yo!

[cakir]

If you loose your cash wallet what happens? Finder of it steals your money.
If you loose / get stollen your hardware wallet; "some people may steal your money" (with 0.000001% chance).
Till the thief extract your priv keys; you can transfer them somewhere safe.

So; it's still safer than fiat.

[ransomer]

If hardware wallets are unsafe what should we use then? we cant go for anything else, just using the cloud lol

Paper wallet is the only thing that is somewhat safe.

Sad that such a backward solution is the best one we can come up with. Looking forward to the next revolution in this space that makes owning btc safely easy.

[btchip]

Topic subject is not really accurate - this is just a bug in the implementation of a specific library of a specific Hardware Security Module vendor, really nothing to be worried or impressed about.

[odolvlobo]

Maybe I missed it, but they don't say which HW wallets are using this?  Are all of them?

You didn't miss it. There are no hardware bitcoin wallets that are at risk.

[NorrisK]

Maybe I missed it, but they don't say which HW wallets are using this?  Are all of them?  Well, I guess it is always a good idea to not keep all your coin in one place, no matter how secure it seems.

Nothing offers 100% security. When it comes to hardware wallets, properly generated paper wallets offer the best security.

Personally I don't see the point in using hardware wallets like Trezor if you can't use them as a standalone device to send and receive transactions. There's no benefit in using an electronic device that might fail just to validate transactions. You could simply store most of your Bitcoin in paper wallets and have a smaller amount in an ordinary software wallet - risk is easily manageable this way.

ya.ya.yo!

Still there are stories about people accidentally generating adresses that used to have coins in them.. That scares me if I would make a paper wallet without encrypting it..

[grendel25]

After recent rumours of security loopholes in Electrum, another hardware solution is facing problems:

http://www.coindesk.com/hardware-vulnerability-could-compromise-bitcoin-private-keys/

Keeping bitcoins safe is really problematic.

Most bitcoin loss is due to user error rather than software or wallet error/failure. People need to educate themselves to keep their bitcoins safe. People need to run good anti virus software on their computers & not go on dodgy websites. I honestly think so many bitcoins have been compromised due to user error.

As long as we have this attitude of "user error" bitcoin will have a bad reputation.  I'm sorry but this is just a paradigm we have to break out of as a community.  Bitcoin can't be taken seriously for mass adoption (if that's even a goal) until money management is simplified.

[pooya87]

After recent rumours of security loopholes in Electrum, ~~~

rumors?
what security loopholes in Electrum are you talking about?
explain or include links or this is FUD

[Amph]

After recent rumours of security loopholes in Electrum, another hardware solution is facing problems:

http://www.coindesk.com/hardware-vulnerability-could-compromise-bitcoin-private-keys/

Keeping bitcoins safe is really problematic.

Most bitcoin loss is due to user error rather than software or wallet error/failure. People need to educate themselves to keep their bitcoins safe. People need to run good anti virus software on their computers & not go on dodgy websites. I honestly think so many bitcoins have been compromised due to user error.

and it's funny because there was an article that was talking how the people don't need to knwo how bitcoin work, then you see those same people losing a fortune in bitcoin

Maybe I missed it, but they don't say which HW wallets are using this?  Are all of them?  Well, I guess it is always a good idea to not keep all your coin in one place, no matter how secure it seems.

they said that they have tested SafeNet Luna G5

what i think is that instead of those crappy wallet, people should use more a simple usb that cost you $4 and put them in a safebox, you're done no need anything else, your btc are 100% safe

[shane]

After recent rumours of security loopholes in Electrum, another hardware solution is facing problems:

http://www.coindesk.com/hardware-vulnerability-could-compromise-bitcoin-private-keys/

Keeping bitcoins safe is really problematic.

so which wallet perfect to safe my bitcoin?

[Kakmakr]

I think a hardware wallet is still better than the leather wallet with the fiat and the credit cards and debit cards I walk around with every day. A pickpocket steal you wallet and they take all your cash and run up your credit card balance to the max.
You should use your hardware wallet in the same way as you are using your wallet in your back pocket. Just have enough coins stored there to buy the most common cheap things, you buy with your leather wallets content.
The life savings should be stored in cold storage/paper wallets with Bip protection and all the better security features. 

[HeroCat]

Try Trezor BTC wallet, this is good wallet from safety point of view  Smart decision of BTC wallet 

[NeuroticFish]

Keeping bitcoins safe is really problematic.

The software can have bugs (it is the case for hardware wallets?).
The data on computers can be stolen via internet / key loggers. Also computers fail sooner or later and you don't know who will have access to your HDD.
Cloud storage .. that's laughable security wise.
I really can't think of safer way than paper wallets. They are cheap, and if you are relatively careful you are super safe.

Obviously spreading wealth over multiple paper wallets is the way to go:
* people will not know how much you own
* you can redeem only parts of your money if you want to

Yeah "you have no every day access to your paper wallets". I know, but do you keep 5k euro cash in your wallet when you go out?

[I E]

Hardware wallets = unsafe

Website wallets = unsafe

Your wallet = unsafe

My wallet = unsafe

What wallet should i use = unsafe

[NeuroticFish]

Hardware wallets = unsafe

Website wallets = unsafe

Your wallet = unsafe

My wallet = unsafe

What wallet should i use = unsafe

Exactly. Welcome to the coin of the future!