Discussing the Theft of Bitcoins from a Paper Wallet. A user named r/jdmcnair lost $3000 in bitcoins due to a wallet generator.
27 Jul 2023, 15:50
Discussing the Theft of Bitcoins from a Paper Wallet
A user named r/jdmcnair lost $3000 in bitcoins due to a wallet generator. The user shared the incident on reddit.
Here's how he stored it: "I was doing self-custody, generated my key and printed it on paper on an offline computer, transferred my BTC to this offline wallet, and kept it stored in a safe that only I have the key for." He also added that he used the walletgenerator.net service.
Blockchain security firm CertiK's director of security operations Hugh Brooks discussed the incident with Cointelegraph. He said that wallet generators are vulnerable as of 2019. If users need secure storage, it's better to use trusted hardware wallet providers such as Ledger and Trezor.
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