Post
Topic
Board Hardware wallets
Merits 3 from 2 users
Re: Bitcoin Threat Model - State Actors and HW Security - Chip Supply Chain Attacks
by
pooya87
on 10/10/2024, 07:05:13 UTC
⭐ Merited by ABCbits (2) ,JayJuanGee (1)
The most obvious strategy is to target the least decentralised aspect of the Bitcoin security chain: the hardware wallets.
Hardware wallets are NOT part of "Bitcoin security chain". They are tools created by centralized companies and sold to anyone who wants the utility they offer. Anything that happens to them is happening to the product of that centralized company NOT to Bitcoin.

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Ten or so manufacturers represents a highly centralised chain link in the Bitcoin monetary system.
Again those chips are not related to Bitcoin.

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Thoughts?
If you want to describe an attack you first have to think about costs and benefits. What would the "state actor" gain by carrying out this type of attack? What would be the costs and most importantly why not use any other alternative method that doesn't cost as much and are easier to pull off?