Post
Topic
Board Service Discussion
Merits 1 from 1 user
Re: Ledger Card Honeypot
by
o_e_l_e_o
on 18/12/2021, 13:41:45 UTC
⭐ Merited by dkbit98 (1)
They use the exact same strategy when it comes to staking ethereum:
I don't use Ethereum so I had no idea about this, but wow. How can they possible call it a hack-proof experience when you have to send your ETH off to some random smart contract. The number of token contracts and smart contracts which have had critical bugs and vulnerabilities in them is uncountable.

Since Baanx group don't know addresses from ledger customers (I hope) this means that I can send coins even from hot wallet or exchange to that card, totally unrelated with ledger.
The whole partnership thing here simply appears to be that there will now be a tab/button/advert/whatever in Ledger Live that will let you link your card and generate a deposit address from within Ledger Live itself, as opposed to having to go to Baanx's own website. Baanx will obviously pay Ledger a cut of the fees and profits for this, and I'm absolutely certain that both companies will share data to increase ad revenue and the like. I can't see anything at all which is new or revolutionary compared to already existing bitcoin cards, with the significant downside being that you will have directly linked a KYCed account with your hardware wallet.

Ledger consider bitcoin to be boring old tech so I speculate they are going to be used as main metaverse tool in future Cheesy
I can't think of anything worse in a hardware wallet. It's crap like this that makes me happy to use airgapped cold storage. At least I know some random company isn't going to start trying to turn my airgapped computer in to something I have never and will never want.