Again, How secure is your Seed phrase?

[Su-asa]

First of all it's wrong to write down your seed phrase in one paper. However if you put your seed phrase in a paper you don't have to write it down in one paper because you have to keep it in different places in your house or anywhere which you think is safe to keep them. In these case nothing can be done here because even if the owner of the cat who's BNB is gone kills the cat he can never recover the seed phrase. So he has to be careful next time and know that seed phrase is not something one would joke with. Actually this is a lesson to investors that do not keep their seed phrase in a safe place.

[Rustam Meraj]

First of all it's wrong to write down your seed phrase in one paper. However if you put your seed phrase in a paper you don't have to write it down in one paper because you have to keep it in different places in your house or anywhere which you think is safe to keep them. In these case nothing can be done here because even if the owner of the cat who's BNB is gone kills the cat he can never recover the seed phrase. So he has to be careful next time and know that seed phrase is not something one would joke with. Actually this is a lesson to investors that do not keep their seed phrase in a safe place.

You are right that it is not good idea to write your seed phrase on just one piece of paper. It is better to break it up into smaller parts and keep them in different safe places. This helps keep your phrase safe if someone tries to steal it or if you lose it. Person who lost their BNB because of their cat is good example of what can go wrong. Now it is too late for them to get their seed phrase back. This should teach investors to be careful with their seed phrases. We need to keep them safe so we don't lose our money. Everyone investing should learn from this and make sure to keep their seed phrases safe.

[apogio]

You are right that it is not good idea to write your seed phrase on just one piece of paper. It is better to break it up into smaller parts and keep them in different safe places.

Please make sure to save identical full backups and don't do seed-splitting.

Andreas Antonopoulos / Bitcoin Q&A: Why is Seed Splitting a Bad Idea?: https://www.youtube.com/watch?v=p5nSibpfHYE
Jameson Lopp / How to backup a seed phrase: "In order to protect their backups from physical attackers, some folks naively split the seed phrase into several parts. This exponentially weakens your seed phrase against brute force attacks."

[knowngunman]

That sounds rubbish because if a person is holding $12M in BNB then why would he have the seed on a paper ?
I get it that paper wallets are safe but wouldn't anyone secure it in a hard metal or something.
It's not that someone would just keep that paper lying around like some random piece of paper.
So I personally think it's a cooked up story and the person would definitely have a backup of the seed.

It might be cooked up story as you assumed but that doesn't longer matter. What matters now is the moral of story telling us how negligence could cost someone a huge amount of money as involved in Op story. Despite the continuous singing of wallet security here on a daily basis, some people won't listen. Perhaps, they think they don't have reasonable amount in their wallet at the moment but they will change when they have enough not knowing that asset security is something you need to learn from root as you begin your crypto journey. By reading about people losing money due to negligence whether the story is genuine or not might give them a second thought not to joke with their seed phrases.

You are right that it is not good idea to write your seed phrase on just one piece of paper. It is better to break it up into smaller parts and keep them in different safe places. This helps keep your phrase safe if someone tries to steal it or if you lose it. Person who lost their BNB because of their cat is good example of what can go wrong. Now it is too late for them to get their seed phrase back. This should teach investors to be careful with their seed phrases. We need to keep them safe so we don't lose our money. Everyone investing should learn from this and make sure to keep their seed phrases safe.

Splitting the seed phrases and hide in different places? That would be the easiest way to lose track of your phrase and end up losing your assets. I would probably buy into the idea of having a duplicate/multiple copies of the phrase but breaking it into segments in different places doesn't sit well with me thou.

[m2017]

~snip

Based on this story, I can only make one conclusion: the best place to store seed phrase is a cat! No one will be able to extract seed phrase from cat for sure. 

P.S. A cat is not a recommended storage location for seed phrase.

[MusaPk]

First of all it's wrong to write down your seed phrase in one paper. However if you put your seed phrase in a paper you don't have to write it down in one paper because you have to keep it in different places in your house or anywhere which you think is safe to keep them. In these case nothing can be done here because even if the owner of the cat who's BNB is gone kills the cat he can never recover the seed phrase. So he has to be careful next time and know that seed phrase is not something one would joke with. Actually this is a lesson to investors that do not keep their seed phrase in a safe place.

If you have huge money in Bitcoin then better keep multiple copies of your seed at different geographical locations like one in your house and another in your bank locker. If you have all copies of your seed at one place then it's like you are creating a single point of failure for your seed. Imagine a scenario in case the whole house is burned down due to fire or damaged due to earth quake or flooding. To be on safe side and mitigate risk, it's a good strategy to store your seed at different locations.

[Makus]

What happened to having several backup's of your seed phrase? I would say that the victim failed in a way to protect his seed properly or the story isn't just clear. Anything is possible we all know, but these are little things that we can do on our own to avoid any future problems.

His cat can't be blamed for this as he should have kept it in a more hidden or secured location and also have different back ups to his keys. Aside paper, we can aswell store own keys on metal backups that would be difficult for physical damage to occurs.

Good question, I wonder how careless such person can be. Aside having multiple locations of storing your seed phrase which is a nice idea what happened to storing them in a safe storage medium like a water proof safe which can be encrypted which your regular 8-24 character password which can be easily remembered.  I never thought cats have interest in eating paper  but jokes aside the story only explains how careless someone can be for a cat to get hold of his seed  phrase worth several millions, for a portfolio worth such amount he should have employed the use of advanced storage medium like a hardware wallet like ledger for storing his mnemonic seed.

[Crypto Library]

I have discussed this several times in several threads before that it is never safe to store our Seed Phrase in a single place.
For this we have to choose the multiple stage method. If we want to store our seed phrase in the offline version as well, then we have to consider storing it online as well.
I would compare this to the driver session of crypto investment. There we do diversification to balance the amount of loss and profit, just like here we also have to do diversification to ensure the ultimate security of our private keys.
In this case, online or offline, we can add some different characters to our private keys which we can memorize. In this case, our private phrases will be more.

[GeorgeJohn]

What causes lost of coins is in security of seed phrase, and that’s why we need to make sure we keep our seed phrase safe from perpetrators to penettrate into our wallet, its obvious from my perspective that seed phrase is meet for you see alone, when two or three persons have access to a seed phrase it's no longer a private key, so we have to accord ourselves such task of keeping it's wallet away from you.

[khaled0111]

In this case, online or offline, we can add some different characters to our private keys which we can memorize. In this case, our private phrases will be more.

I don’t think this is a good idea, to be honest. You should never rely on your memory when it comes to storing sensitive or important information like wallet private keys or seed phrases, even if we are talking about just a few characters or words. You never know what might happen to you or your memory (God forbid) a few years from now.

Actually, you should avoid storing your private keys or seed phrases online as much as possible. However, if you must do so, then before doing it, make sure to encrypt them with a reliable and strong encryption algorithm.

[BlackBoss_]

Andreas Antonopoulos / Bitcoin Q&A: Why is Seed Splitting a Bad Idea?: https://www.youtube.com/watch?v=p5nSibpfHYE

Seed spliting is very bad and terrible idea, because Bitcoin wallet private key and mnenonic seed can not be bruteforced easily. If you do seed spliting and lose one or two parts of your seed spliting, you will definitely lose that wallet and won't be able recover it and your bitcoin.

Making your wallet backups is to secure and save your wallet and your bitcoin fund, not to destroy it. This method is terrible backup idea and I agree with you and Andreas.

This is reason made people panicly and disappointed when Ledger launched their Ledger Recover.
Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities.

[Crypto Library]

In this case, online or offline, we can add some different characters to our private keys which we can memorize. In this case, our private phrases will be more.

I don’t think this is a good idea, to be honest. You should never rely on your memory when it comes to storing sensitive or important information like wallet private keys or seed phrases, even if we are talking about just a few characters or words. You never know what might happen to you or your memory (God forbid) a few years from now.

There are some deiform losses that we can never recover and that is the reality. From this point of view, we will not be able to recover it.
The trick that I personally use is that I have some numbers that I have been using for seven-eight years now and no one knows them except me. I try to use those numbers in every password or private information and also use characters and special characters and when I save my password somewhere, I save only characters and special characters and I memorize the numbers in such a way that I will never forget unless I have an incident like memory loss in the future.

Actually, you should avoid storing your private keys or seed phrases online as much as possible. However, if you must do so, then before doing it, make sure to encrypt them with a reliable and strong encryption algorithm.

I don't disagree with this but I have seen several incidents where the providers of encryption methods are involved in stealing user data. Now the way is to create our own encryption application but I haven't gone to that level yet so it hasn't been done yet.

[Dunamisx]

What causes lost of coins is in security of seed phrase, and that’s why we need to make sure we keep our seed phrase safe from perpetrators to penettrate into our wallet, its obvious from my perspective that seed phrase is meet for you see alone, when two or three persons have access to a seed phrase it's no longer a private key, so we have to accord ourselves such task of keeping it's wallet away from you.

The security is what many don't even pay attention to, not knowing that this is even more better known that the investment they are interested in starting, because i don't see an essence in building an empire without having any form of defense on it, we have to know more about the use of the security measure in cryptocurrency, because this will be the ultimate reason why we are investing and withstand the risk of not loosing it all.

[PX-Z]

It was reported that a man lost about $12m worth of BNB because a cat eats a paper containing his seed phrases.

If this really happened, it means those paper backups were placed in an easily accessible spot, so much so that even a cat could get to them. I have cats, but I’ve never seen them shred paper to pieces, though I guess it depends on how they were raised and what they’re used to playing with. 

Backups like these should at least be stored in a cabinet where a cat (or anyone else) can’t reach them. Ideally, they should be kept in a much more secure location, not just a drawer in the living room. 

By the way, the article link redirects to a 404 page.

[BABY SHOES]

It was reported that a man lost about $12m worth of BNB because a cat eats a paper containing his seed phrases.

If this really happened, it means those paper backups were placed in an easily accessible spot, so much so that even a cat could get to them. I have cats, but I’ve never seen them shred paper to pieces, though I guess it depends on how they were raised and what they’re used to playing with. 

Backups like these should at least be stored in a cabinet where a cat (or anyone else) can’t reach them. Ideally, they should be kept in a much more secure location, not just a drawer in the living room. 

By the way, the article link redirects to a 404 page.

How did the cat win the paper with the seed phrase? Arhhh that's probably storage too easy to reach and that's easy on your mind!

Again, I keep a copy of the seed phrase in a safe place where only I know where it is.

Moreover, in a desk drawer or cupboard it is easily accessible to anyone.
As much as possible should be able to secure in a place where other people's money space is not often there.

[suzanne5223]

It was reported that a man lost about $12m worth of BNB because a cat eats a paper containing his seed phrases.

If this really happened, it means those paper backups were placed in an easily accessible spot, so much so that even a cat could get to them. I have cats, but I’ve never seen them shred paper to pieces, though I guess it depends on how they were raised and what they’re used to playing with. 

Backups like these should at least be stored in a cabinet where a cat (or anyone else) can’t reach them. Ideally, they should be kept in a much more secure location, not just a drawer in the living room. 

By the way, the article link redirects to a 404 page.

Yes, this can happen, and I don't think there's a reason for anyone to fabricate this story.
You said you have cats, and I believe you should understand the curious of pet like cat sometime when they feel like playing, or testing out their claws they can use any object they see even if the thing is not put in an easy to accessible spot for the cat because it depend on the closeness of the cat and it owner.

[AYOBA]

A friend shared this story with me and I think it's worthy of discussion here to further open our eyes to safeguard our private/seed phrase like our life depend on it. Our life actually depends on it because the purpose of investment is to make things easier for us in the future when we don't longer have strength to do hard work.

It was reported that a man lost about $12m worth of BNB because a cat eats a paper containing his seed phrases.

full story here

I still believe many people here have their seed phrase written on a paper which is not entirely wrong but how safe and secure is the paper? We've raised concerns about paper decay, burning etc but least we expect this scenario of animals eating the paper.

A seed Phrase is very important for each an everyone, but most of peoples are very caress they do play with the their seed phrase, instead of them to keep it in a save places but they won’t and that’s such kind of things happen to many people’s; if not how can someone lost $12m worth of BNB this is a very sad news to be sincere speaking.

Although that written a seed phrase in a sheet of papers is very dangerous, because of scenarios animals but we still not everyone are save is just have to be careful when ever we keep our seed phrase some of the people are recommended a phone that is better to keep it in phone, and which is also dangerous since the phone might lost too.

[Ever-young]

The security is what many don't even pay attention to, not knowing that this is even more better known that the investment they are interested in starting, because i don't see an essence in building an empire without having any form of defense on it, we have to know more about the use of the security measure in cryptocurrency, because this will be the ultimate reason why we are investing and withstand the risk of not loosing it all.

I completely agree with you.
Security is the most important aspect of any investment, even more important than the investment itself because it’s useless having an investment when you can’t boast of the security of your investment, because you can just wake up one morning and all your life’s worth has disappeared into thin air. And the worst part of this whole thing is that, a lot of people in the industry fail to acknowledge this fact. You’ll see someone writing their seed phrase on a notepad and just carelessly drop it on the table, which is a very reckless way to behave with one’s phrases.

[dzungmobile]

You’ll see someone writing their seed phrase on a notepad and just carelessly drop it on the table, which is a very reckless way to behave with one’s phrases.

Storing your bitcoin in a good wallet, non custodial and open source. Make your wallet backups and store them safely, secured and secretly. You can think of backup purpose and make your proper practice.

Your backup is to keep your bitcoin safely as you have another chance of recovering your wallet. Its purpose is not to help other people stealing your bitcoin. Even you don't  get a hack or loss by someone else with access to your wallet backup and your bitcoin, you have another risk of losing your bitcoin.

Like this careless man
His backup is in a garbage can as his Mom did not know that piece of paper is important with him.

[Baki202]

You are right that it is not good idea to write your seed phrase on just one piece of paper. It is better to break it up into smaller parts and keep them in different safe places. This helps keep your phrase safe if someone tries to steal it or if you lose it. Person who lost their BNB because of their cat is good example of what can go wrong. Now it is too late for them to get their seed phrase back. This should teach investors to be careful with their seed phrases. We need to keep them safe so we don't lose our money. Everyone investing should learn from this and make sure to keep their seed phrases safe.

Anything that can be easily damaged is not advisable when writing your seed phrase or storing it in it because it can easily be torn off. You can find a better way of storing your seed phrase than writing it down, and people are finding it very hard to save it because it contains many words, so one missing one can change everything. The example you gave about a man losing everything to his cat—I wonder how the man is going to feel about losing such an amount of money.

and you can even save it in a deposit box in the bank the only thing that matters is when you can keep saving because it holds a lot of value, and the worst thing that can happen is when you save it online, that can be one of the worst steps you can take so it is better to consult other alternatives to save your seed phrase because there are a lot of options out there that can help give more idea on how to save bitcoin.