Post
Topic
Board Hardware wallets
Merits 1 from 1 user
Re: Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
by
FatFork
on 18/05/2023, 14:09:50 UTC
⭐ Merited by dkbit98 (1)
<Snip>
Let's also not forget that it took a famous hardware hacker three months to discover a vulnerability in a Trezor he had physical access to. And the only reason it worked was because the device used an outdated firmware version that made such a vulnerability possible. That has been patched a long time ago. Trezors remain vulnerable to physical manipulation, but you must know what you are doing. A random thief doesn't. Even if the required hardware for a successful attack isn't expensive, it's not something most people keep in their garage or know how to use. 

And here's the kicker: Not only would an attack require physical access to the device, but it would likely take a significant amount of time too. I mean, let's be real here, it's highly unlikely that there's a bunch of folks out there with a ready-to-go Trezor hacking setup in their garage or basement. The chances of running into someone like that in your vicinity are extremely slim. So, even in the worst-case scenario where you lose access to your Trezor device, you still have a window of opportunity. You can usse the backup seed to regain access to your funds and swiftly transfer them to a secure wallet.

The primary purpose of having a physical device to safeguard your assets is not to provide absolute security, but rather to make the potential for theft extremely challenging.