What huge failures in basic security are you referring to?
All the ones pointed out by everyone who has pointed them out.
If I did actually redundantly reiterate the many flaws here by pointing them all out AGAIN, you dashers would just say "nugh-ugh!"
And we would start yet another revolution around the circle this thread has been going in from the beginning.
So to you guys, a "cold wallet" is one that is "cold" when you want it to be and "hot" when you want it to be. Lukewarm wallet? Tepid wallet?
EDIT: OK, I get it. Even a "cold" wallet has to be brought "online" at some point, in order to transfer funds. So, it is a rather ambiguous term.