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RE: Ledger Nano S Review

in #altcoin7 years ago (edited)

Upvoted, Resteemed, and Followed.
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My only issue with the hardware wallet is the seed key is the vulnerability of the cold storage. I know you need it to recover the crypto in case you loose your nano but the seed can be used to steal your crypto without your ledger nano present. The seed key is hard to crack but let's say someone hacked your pc and found the seed key, you're done for, even if your hardware wallet is securely inside your fireproof safe. My point is, if the recovery is done online, it can be hacked.
Here is an example: Bear in mind that there were mistakes made by the buyer but the point is that the seed key was used to steal the funds without the ledger nano being present.
LINK: Man’s Life Savings Stolen from Hardware Wallet Supplied by a Reseller

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Great comment and very good point. One of the reasons we always recommend keeping multiple copies on paper and to be aware of where you are buying from.