Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Physical Attacks getting more serious
by
Xavofat
on 18/02/2021, 11:51:20 UTC
risk?[/i]
- Never talk in public how much Bitcoins you own, or maybe don't even say that you even own any Bitcoin.
- Try not to reveal your private information with various KYC procedures, or for ordering any crypto related stuff like hardware wallets.
- Don't keep all your Bitcoins in one wallet address and use multiple decoy wallets with small amount of coins.
- Use better security for your seed backups.
One thing missing from this list too is the use of passphrase protection for hardware wallets.  If a TREZOR or Ledger is compromised there is a [/url=https://cointelegraph.com/news/trezor-wallets-can-be-hacked-kraken-reveals]risk of the thief exploiting vulnerabilities[/url] in the device to steal coins, especially if there is a large sum of money in the wallet.

With passphrase protection, the user can prevent physical attacks from taking BTC by:

1. Storing a passphrase somewhere very secure e.g. a bank safety deposit box or underground
2. Not remembering the phrase yourself

That way, a thief would be unable to take the coins through a physical attack as they could not coerce you into revealing a password to a computer, PIN for a hardware wallet, etc.

In this way a user could have a 'current account' (not passphrase protected) and a 'savings account' (only accessible by temporarily getting your passphrase out of its safe place).