Are there any reported cases of hardware wallets being hacked and funds stolen?

3 answers

• Mar 20, 2022 · 3 years ago
  Yes, there have been reported cases of hardware wallets being hacked and funds being stolen. One notable example is the Ledger data breach in 2020, where hackers gained unauthorized access to the company's e-commerce and marketing database, compromising the personal information of thousands of customers. While the stolen funds were not directly from the hardware wallets, the breach raised concerns about the overall security of hardware wallet users. It's important to note that hardware wallets are generally considered to be one of the most secure ways to store cryptocurrencies, but no system is completely immune to hacking attempts.
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• Mar 20, 2022 · 3 years ago
  Absolutely! Unfortunately, the security of hardware wallets is not foolproof. There have been instances where hackers have successfully compromised hardware wallets and stolen funds. One such case is the Bitfi wallet hack in 2018, where a security researcher demonstrated that he could extract the private keys from the wallet. However, it's worth mentioning that these cases are relatively rare compared to other forms of cryptocurrency theft, such as phishing attacks or exchange hacks. It's crucial to follow best practices like keeping your firmware up to date and purchasing hardware wallets from reputable manufacturers to minimize the risk of such incidents.
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• Mar 20, 2022 · 3 years ago
  As a representative of BYDFi, I can assure you that there have been no reported cases of hardware wallets being hacked and funds being stolen on our platform. We prioritize the security of our users' digital assets and have implemented robust measures to safeguard against potential threats. However, it's important to note that the security of hardware wallets depends not only on the platform but also on the user's practices. It's crucial to follow security guidelines, such as keeping your recovery phrase offline and avoiding suspicious websites or applications, to ensure the safety of your funds.
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