You all probably heard the news yesterday that the Ledger cold wallet was hacked.
❗️ Ledger: We detected and removed a malicious version of Ledger Connect Kit. A genuine version is now being released that will replace the malicious file. Do not interact with any decentralized applications at this time. We will keep you updated as the situation develops. Your Ledger device and Ledger Live have not been compromised.
Many media outlets began to publish this news with loud headlines, and naturally many panicked for the safety of their funds.
But in fact, nothing critical happened. In fact, there are no problems with the wallet itself; malicious code was simply uploaded to the websites of decentralized exchangers and stock exchanges.
We tell you quite often that most of your funds should be stored in cold wallets such as Ledger. But we never said how to use these wallets correctly.
Undoubtedly, the most reliable way to preserve capital is to store it in cold wallets.
To protect yourself as effectively as possible, you should always follow these rules:
1️⃣ When creating and saving a seed phrase, which is essentially your wallet, you must write it down with a pen on paper.
Under no circumstances should you take a screenshot of this phrase or save it in any form on a computer or other electronic device.
Hide the papers with this phrase in a safe place, and ideally just memorize it.
2️⃣ Never connect your cold wallet to unknown devices.
Moreover, it is most reliable to have a separate computer or laptop that will be used only to connect this wallet.
There are a lot of viruses and malware on the Internet that, in theory, can intercept access to your device.
3️⃣ Never connect to decentralized applications or exchanges using a cold wallet.
Moreover, we do not recommend connecting even to official blockchain network explorers, such as tronscan.org, etherscan.io and so on.
Simply put, use a cold wallet only to deposit or withdraw cryptocurrencies from it.
4️⃣ If you want to trade on decentralized exchanges or exchangers, use hot wallets such as TrustWallet.
These are the basic rules for using a cold wallet. That is, it must be used strictly for its intended purpose - to store cryptocurrency:
1. Long-to-medium-term portfolio and most of the savings should be in a cold wallet $BTC $ETH $BNB
2. If you trade on decentralized exchanges, then trade using hot wallets.
✔️ It's simple, but many people neglect these rules and sooner or later they will face big problems due to their negligence.
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