Block-chain wallets are relatively safe, and almost all digital money wallets have fatal vulnerabilities

Cold wallet, also known as hardware wallet.
The equivalent of the private key on a chip, not networked, is regarded as “absolute security” of the storage currency way.


It was once the last safe and pure land in the world of blockchain.

And lately, almost all the hardware wallets have been cracked.

With the boom in wallets, many new manufacturers are joining the battlefield, but their understanding of security is often not in place. This greatly increases the security risks.

Block chain of the world, in the end whether there is absolute security?

Do you know?
In fact, most of the wallet can be cracked.

“The ledger wallet is designed with a security chip and a non secure chip, and we can get a pin for the wallet step-by-step without removing the shell, by forcing the upgrade of the unsecured chip.” “said the expert.

Pin code is the same as the wallet password, with it, you can open the wallet, transfer the money away.

“As long as you touch the phone for 2 minutes, hackers can get data, regardless of whether you have shielded protection password.” Experts say the loophole is extremely serious.

In his view, this is the most dangerous of all – low – and mid-range smartphones, “all using the MTK chip scheme.”

This means that the vast majority of hard purses and soft wallets are unsafe.

But what about the hardware wallet?

The hardware wallet works, that is, the private key exists on a chip, and network isolation, Plug and play. Its shape, a bit like a U disk.

In the industry, hardware wallets are generally considered the safest means of digital currency storage. There are three main reasons for people:

1. The private key in the hardware wallet cannot be exported.
Because does not network, eliminates the hacker attack.

2. Easy to back up.
The device generates mnemonics when the configuration is initialized, as a backup of the private key, and when your device is lost or corrupted, you can purchase a new device and then restore the private key by mnemonics.
3. Multi-currency management can be achieved simultaneously-the vast majority of hardware wallets, in addition to the management of Bitcoin, can also manage the Wright coins, Ethernet square, bit cash and other digital currency.

The exchange was stolen by a large number of coins and software purses, and the hardware wallet was considered the last moat.

What does this moat mean when it is lost?

In fact, the hardware wallet is not the first to be cracked, nor will it be the last to be cracked.

A security team at the World Hacker Congress def CON 25, held in Las Vegas in 2017, showed the audience how to hack the Bitcoin hardware wallet.

It is reported that after the advent of quantum computers in the future, the generation of 3 trillion keys, it may take only 8 hours. Just thinking about it makes people shudder.

In the block chain of the world, absolute security, exists?

As the previous proof, hardware wallet, there is no absolute security.

So, “code is the law” of the intelligent contract, and safe?

Imagine that you have signed a contract, although the contract is open source, but you do not fully understand the contract. This is the frustration of most people about smart contracts.

And open source means that anyone can see it. In other words, you sign a contract that you don’t understand, and the hacker behind you can read it.

Once the vulnerabilities of the smart contracts were discovered by hackers, they would launch an attack. There are numerous examples of such cases.

By this inference, the conclusions drawn may be pessimistic.

Is there any absolute security in the world of block chains?
Perhaps, we can think of this problem from a different angle.
Security is never absolute, but relative.