Is Your Crypto Wallet SAFE? This Report Will SHOCK YOU!!
🔒 Open sourcing the code to crypto wallets does not guarantee security, highlighting the need for additional measures to protect against hacks and exploits.
💰 The recent Atomic wallet hack resulted in the theft of between 35 and 100 million dollars of crypto, affecting approximately one percent of active user balances.
💣 Atomic wallet scored low in terms of security due to vulnerabilities, highlighting the importance of choosing a wallet with high security measures.
🤯 The report reveals that fully open source crypto wallets have a considerably higher risk of getting hacked compared to partially open source wallets, which goes against the common belief that open source is more secure.
🔒 A hardware wallet doesn't guarantee that the wallet won't be hacked or exploited, but it almost guarantees that you won't lose any of your crypto if a hack or exploit does occur.
💼 The authors argue that all crypto wallets should force users to write down their private seed before using the wallet, emphasizing the importance of security measures.
💡 Even the best crypto wallets may not have bulletproof security, so it is crucial to keep your crypto on a hardware wallet to minimize the risk of theft.
