Can you feel comfortable buying a hardware wallet from another party?

Johnny | the Btc Casino Players, 6 years ago 3 min read 524

Can you feel comfortable buying a hardware wallet from another party?
Redditor moodyrocket is coming to terms with his “life savings” wiped out this week, even after $34,000 of crypto was discharged from his recently acquired Nano Ledger hardware wallet. The device was compromised, not due to any flaws in its style, but thanks to some man in the middle attack that saw the freelancer fit their own recovery seed. The purchaser then unwittingly started using the wallet, oblivious that the default that they had been using hadn’t been randomly assigned by the producer. He also explained:
Hardware pockets are regarded as one of the safest means of storing bitcoin along with other cryptocurrencies. Each device permits the holder possession of the own keys and adds a PIN code plus other tamer-proof tech for increased security. Hardware wallets are not impregnable, nevertheless, as one British man discovered to his danger after purchasing the device on Ebay.
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Man in the Middle

Despite the security of hardware devices, the weakest link is obviously the individuals using them. A raft of anti inflammatory tech can not atone for human mistake. Had the victim reset the unit and produced a new seed he’d have been fine. When presented with convincingly forged documentation, however, he obviously felt secure at sticking with the default seed. Purchasing hardware pockets directly from the producer might take longer and cost more, but also the alternatives just are not worthwhile.
Safety

The great majority of resellers stocking pockets like Ledgers and Trezors don’t have any intention of meddling with those devices. But it only takes one unscrupulous entity to hinder a wallet and pass it to the unsuspecting purchaser. The seed is meant to be created by the device, yet this purchase came with “scratch off” paper that shown the seed.

Released at Sun, 07 Jan 2018 02:05:21 +0000

The victim was initially confused as to how the attack could have been successfully pulled away, before finally twigging the Ebay seller must have tampered with the gadget. After sharing his narrative Reddit, Ledger reached out to moodyrocket and encouraged him to report the offense to “bring the eBay seller to justice”.
The likelihood of the British-based victim becoming his cryptocurrency back are remote, but his loss can be the community’s profit. The widespread focus the tale has received functions to highlight the dangers to anyone contemplating purchasing a hardware wallet from another party. Auction sites, unaffiliated sellers, and retailers who have no formal venture with wallet manufacturers should all be averted.

I have not used my Ledger in a week, today I decide to inspect the value of my XRP, Litecoin and Dash only to discover that most of these showed up as zero and was transferred somewhere else all around exactly the exact same period at 7:30pm. I am unsure how it’s possible as I have not access my Ledger in weekly.