Do Not Attached Your Hardware wallets to your personal house/car keys

[SatoPrincess]

I suspect the owner does not have a backup of his seed phrase because if he does, there wouldn’t be a $10,000 reward for the hardware wallet. And that also means that the coins in that wallet is worth more than $10k, even if the person who found it came across the ‘Lost and Found flyer’ they might get the idea of trying to crack the keys on their own and keep all the money for themselves.

[Lucius]

@SatoPrincess, you can't just crack the hardware wallet, there is still protection in the form of a PIN which, if entered three times in a row, will reset the device to factory settings. However, if I remember correctly from an article when some vulnerabilities related to Ledger were published, apparently it is not that difficult to brute force the PIN on that device.

I think that the average finder would still take $10k instead of embarking on an adventure that is first a criminal act, and then a mission that in the end can only yield one bricked device.

[Phu Juck]

What a bad way to store your keys. I hope at least it is a good lesson to everyone else how to store keys NOT because it can be simply lost and we will lose access to our valauble coins. Storing coins safely should be a very high priority.

I suspect the owner does not have a backup of his seed phrase because if he does, there wouldn’t be a $10,000 reward for the hardware wallet. And that also means that the coins in that wallet is worth more than $10k, even if the person who found it came across the ‘Lost and Found flyer’ they might get the idea of trying to crack the keys on their own and keep all the money for themselves.

Yes, it might be as you've said and he desperately tries to find now his hardware wallet, even giving out a bonus to whoever will find it.

[SquirrelJulietGarden]

What a bad way to store your keys. I hope at least it is a good lesson to everyone else how to store keys NOT because it can be simply lost and we will lose access to our valauble coins. Storing coins safely should be a very high priority.

The dangerous points are

That person lost his hardware wallet to someone else who can steal his coin. There is still PIN protection layer and with only 3 attempts, it's hard to try and succeed but there is still another risk.

If the person did not make proper back ups, losing his hardware wallet will be the end to lose all cryptocurrency in that wallet.

With such careless person, I imagine that risk of don't have any back up is not too small.

How to back up a seed phrase? is useful for anyone who want to self-store cryptocurrency in non custodial wallet, must know of back up steps and recovery process.