{"id":3066020,"date":"2024-01-16T17:58:31","date_gmt":"2024-01-16T22:58:31","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/plato-data\/warning-do-not-buy-crypto-hardware-wallet-from-unofficial-sources\/"},"modified":"2024-01-16T17:58:31","modified_gmt":"2024-01-16T22:58:31","slug":"warning-do-not-buy-crypto-hardware-wallet-from-unofficial-sources","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/warning-do-not-buy-crypto-hardware-wallet-from-unofficial-sources\/","title":{"rendered":"Warning! Do Not Buy Crypto Hardware Wallet From Unofficial Sources"},"content":{"rendered":"
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The crypto hardware wallet, a physical device designed to store the private keys to your digital assets offline, away from the vulnerabilities of internet exposure, is usually considered paramount to crypto security. <\/span><\/p>\n

However, <\/span>recent<\/span><\/a> advisories from SlowMist, a cybersecurity firm, have highlighted a significant risk: the dangers of purchasing hardware wallets from unofficial sources.<\/span><\/p>\n

SlowMist\u2019s warnings come after the occurrence of multiple theft reports linked to hardware wallets bought from unauthorized sellers. <\/span><\/p>\n

The core of the problem lies in tampering with these devices, which can compromise the security of the stored assets. <\/span><\/p>\n

It is critical for users to understand that hardware wallets bought from unofficial channels may already be manipulated, leading to potential fraud and asset loss.<\/span><\/p>\n

See Also: OKX Obtains Conditional VASP License To Operate In Dubai<\/a><\/p>\n

\u201cSlowMist reminds that hardware wallets purchased from unofficial channels are at risk of theft, and any pre-created PIN code is at risk of fraud; new devices must be activated when used for the first time, and mnemonic phrases must be created and backed up. Otherwise, there is a\u2026\u201d<\/b><\/p>\n

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SlowMist reminds that hardware wallets purchased from unofficial channels are at risk of theft, and any pre-created PIN code is at risk of fraud; new devices must be activated when used for the first time, and mnemonic phrases must be created and backed up. Otherwise, there is a\u2026<\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) January 15, 2024<\/a><\/p>\n<\/blockquote>\n

One alarming practice identified involves preset PIN codes in these corrupt wallets. Users must be aware that a legitimate hardware wallet requires the user to set a new PIN upon initial setup. <\/span><\/p>\n

Any device that comes with a precreated PIN should be treated with suspicion, as it indicates potential unauthorized access and manipulation.<\/span><\/p>\n

Moreover, the process of activating a new device and generating a mnemonic phrase is crucial. If a wallet is purchased from an unofficial source and these steps have already been completed, it is a red flag. <\/span><\/p>\n

The mnemonic phrase is the backbone of your wallet\u2019s security, and if compromised, can lead to unauthorized access to your funds.<\/span><\/p>\n

In a recent advisory, specific unofficial stores on JD.com have been identified as selling potentially compromised imKey hardware wallets. <\/span><\/p>\n

Stores such as Fengyun Technology Hardware Wallet Studio, Preferred Hardware Wallet Studio and others have been flagged for selling these devices, thus posing a risk to unwary consumers.<\/span><\/p>\n

See Also: Fantom Foundation Cuts Validator Staking Requirement by 90% To Increase Decentralization<\/a><\/p>\n

As a rule of thumb, always purchase hardware wallets directly from the manufacturer or from authorized retailers. <\/span><\/p>\n

By doing so, you ensure the integrity of the device and safeguard your digital assets. <\/span><\/p>\n

In sum, adhere to imKey\u2019s security tips: set your own PIN, activate new devices personally and securely back up your mnemonic phrase.<\/span><\/p>\n<\/p><\/div><\/div><\/div>\n

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