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Topic
Board Beginners & Help
Re: Hope people that give out personal address safe? Ledger wallet users' attacks
by
witcher_sense
on 22/12/2020, 12:19:33 UTC
This is where adding a temporary PIN code to your Ledger helps a lot. Transfer all your funds except $50-100 to a temporary PIN and if such an attack ever happens, you could get away with a loss of only $50-100 while the remaining majority of your funds will be safe. The thief will think you've given him everything you had, without knowing you also have a hidden account containing the actual portfolio.

To learn more about how a secondary password helps, check out the following link: https://www.ledger.com/academy/passphrase-an-advanced-security-feature

The question is should we follow the security tips from the Ledger company that allowed such a data leak? It seems to me they have no idea how to hide something sensitive and important. The leak of that data may result not only in a loss of funds but also in a loss of someone's lives, which is obviously more important than bitcoins stored on Ledger hardware wallets.

In my opinion, plausible deniability in such a case won't help since attackers are usually well aware of any tricks that one may come up with a Ledger hardware wallet. You don't think they'll leave you alone after taking your $100, do you? Personally, I doubt it.

It is better to get rid of your Ledger altogether and try to persuade attackers you had sold all stupid bitcoins and stupid hardware wallets because it was dangerous to deal with those after a leak happened. Otherwise, once you show you still have it, you are most likely done.