Stay alert even your ledger wallet can be compromised!

[Pablo-wood]

I came across this on Reddit and it raised an important question about wallet security!.
When a private key or seed phrase becomes exposed, people often assume the device was hacked but in most cases the cause might be some careless mistakes

Some common mistakes include

• Careless Storage Of Seed Phrase:-
  Most users take screenshot of seed phrase without knowing the implications. Sometimes this screenshots automatically gets saved in the cloud or even on their device gallery, some save theirs as email draft, notes apps and as saved messages.
  
  
• Malware or Fake Apps:-
  This are for users who are fun of downloading wallet apps from unofficial sources. They randomly install apks, browser extensions or mining apps that steals private keys.
  
  
• Phishing Websites:-
  How about entering seed phrase on scam pages pretending to be wallet recovery apps or some presenting spicy airdrops
  
  
• Compromised Device:-
  For free apps freaks. The always prefer cracked versions or rooted/jailbroken devices. Most of those cracked apps could come with malware installed.
  
  

Preventive Measures

• Never store seed phrase digitally
• Never screenshot it no matter how tempting it might be.
• Use a hardware wallet for meaningful amount
• Only install wallets from verified sources
• Keep your device locked and avoid sharing

Conclusion
A single moment of carelessness can expose an entire wallet, always prioritize proper security practices at all times.

[Sim_card]

Wa private key or seed phrase becomes exposed, people often assume the device was hacked but in most cases the cause might be some careless mistakes

I am not surprised that's a ledger user this happened to because ledger store their seed phrase with a third party online. Ledger also is not a good wallet to use because I don't see it safe enough to store your funds.

I believe that the only way a hardware wallet can be compromised is keeping your seed phrase carelessly for someone to see it because it's an airgapped device. The other ones you mentioned above applies to software wallets.

[Jewan420]

The safest advice here may be to use a hardware wallet if you are using it as a cold wallet. The problems you mentioned can only occur when you are using a software wallet. As much as the Internet has made our personal life easier, it has also affected security. With the improvement of technology, thieves are also getting better and are stealing personal information and doing various things, the biggest problem of which is the theft of funds.

When we are using a wallet on a device that is connected to the network most of the time, no matter how aware I am about scams, your wallet is not safe. Especially those who keep a lot of funds in a software wallet and keep the device connected to the internet regularly. So to avoid scams and ensure the security of the funds, keep the device as far away from the internet as possible or use a hardware wallet. Do not use digitalization methods for storing seed phrases and passphrases. Try to keep it safe offline and try to stay away from the internet to stay safe.

[348Judah]

You just share another evidence not to trust in the use of ledger any longer, before now, they have already made the whole stuff more complicated for themselves by not found in concensus to the privacy terms with data leakage, now here is another reason people should not trust them being a hardware wallet, they aren't safe any longer, scammers also taking advantage on all these.

[Z-tight]

I am not surprised that's a ledger user this happened to because ledger store their seed phrase with a third party online. Ledger also is not a good wallet to use because I don't see it safe enough to store your funds.

Some part of the Ledger wallet is closed source, they also have not been entirely truthful with their customers. And then there is the data leak and ledger recover opt-in service. But to be fair, the wallet itself has not been compromised. It is not a recommended hardware wallet, because there are other better alternatives, but anyone who lost their funds in Ledger was as a result of their own error.

I read about this case in Reddit, and the victim gave away their seed phrase and that's why their funds was stolen. They were attacked through a phishing email and the rest is history. You could argue that Ledger customers are constantly harassed by scammers because Ledger lost their customer database, but people also expose personal data in many other ways.

[dkbit98]

Never using ledger and other closed source devices is one of the best advice to avoid scammers like this.
But I think bigger problem is how backup or seed words are stored and protected.
Best thing would be to have them encrypted, and never share them with anyone.

[CryptSafe]

Careless storage of seed phrases and phishing sites are the two worst mistakes people make that get their wallets and devices compromised by hackers or scammers. Just as you have said, taking a screenshot is very dangerous because you have no idea what apps have been compromised to view your photos, or you grant some apps to access your pictures, thereby giving a third party access to view your pictures, and when you have your seed phrase as a screenshot, they get the information and do away with your assets.

This is why some wallet apps do not allow for screenshots, or they make you sign and agree to their terms before you activate the screenshot function, so that if anything goes wrong, they would not be blamed, as you already agreed to the terms and conditions before being able to activate it.

Another mistake people make is believing what they see online without doing a proper verification on it, so as to authenticate how true what they have heard or seen is. But they are just quick to believe without knowledge, and they do not care about the consequences of their actions till it dawns on them that they have made a big mistake which they should not have made in the first place.

From all indications, the majority of the hacks happening now are likely as a result of apps we grant permission to access our device including photos and people do screenshot their keys forgetting that their keys are save as pictures on their devices and that is how they get hacked and their assets stolen.

[Amphenomenon]

Ledger will continue to cost many a lot rather than protecting them. There are many ways especially through past data Breaches attackers can or will have on users but still we need to be careful and never consider ourselves not being able to fall victim, thereby keeping every security features in check, and not depending on the strength of wallets or  other tools we used.  Take full responsibility for someone not to get control of your coins.