Your wallet is hacked? Where should you keep the key and what should you do when you lose the key? Which wallet have the best security? ... In this article I will answer you these questions along with some other questions you often ask.
***** Did your wallet hack?
If this happens, there are not many solutions you can take.
When you log into your wallet, there are no coins in your wallet and some transactions to unfamiliar addresses. That means you have been attacked.
Due to the anonymity of electronic money, in this case, if you follow unfamiliar addresses, you will not know at the end. Tell the company - you may not be the only one - and looking at your wallet along with the security features of your computer / smartphone, You will probably notice some significant flaws.
But if you keep your money in a wallet on the electronic money trading platform and the floor is attacked, chances are you will receive compensation. The best thing you can do to protect your wallet is to make sure that you are aware of the possible threats and that you use your wallet correctly.
*****How hackers can steal electronic money?
The most common type of phishing is fake attack. A hacker can send you a fake email on behalf of your wallet service, containing a fake URL, which may differ from the actual URL of the wallet service using just one or more letters. Or even the hacker can also redirect the real URL to the fake URL when you are going into the wallet online. The latest giant phishing attack occurred on April 24, 2018 for My Ether Wallet users who lost an amount of ETH worth up to $ 150,000 in a DNS hack.
In addition to phishing attacks, hackers exploit simple human error, such as keeping private keys in mail, leaving keys in public places, using unprotected public networks, etc. These allow hackers to steal all the information and find your wallet password easily. In addition, keeping a large number of tokens and performing large transaction missions can also attract hackers seeking to hack your wallet exactly.
*****Where should you keep your keys?
The shortest answer to this question is offline better than online.
The common mistake is to keep wallet keys in email, Google Drive, Dropbox or any note application in your smartphone. These are the places where hackers 'visit' first when they try to penetrate. Ideally, you should store the key in a more private place. You can burn it to USB or just write it down to a note book and keep it in your drawer.
*****If I lose my keys, what should I do?
It depends on the type of wallet you use.
For most popular software wallets, you can only know your backup phrase, a memo phrase, that includes 12 words. In case you forget the pin, you just delete the app, reinstall it using the redundant phrase, and create a new one.
There are wallets that provide access via ID Touch / Face instead of PIN. For example, in the Lumiwallet application, simply touch the Touch / Face ID in the application settings. The good thing in applications like Lumi is that you only need to remember one thing: redundant phrases. The bad thing is that when you've forgotten your backup phrase, you will lose access to your wallet. In this case, technology is powerless. The ultimate hope for those who fall into such a state of mind is the hypnosis of medicine.
*****I noticed that my wallet placed a new address every time I log in - is this okay?
Yes, it is because of the safety of your wallet.
This method is called HD-safe or "hierarchical deterministic". This means that every time you send or receive money, a new address will be created for your wallet. This is a useful option, because it makes your transactions more difficult to track and makes the hackers unable to figure out the actual amount you keep in your wallet. If you need to transfer a large amount of money you should split it into multiple transactions.
*****Is there an ideal type of purse that has the best security?
No, All the different wallets depending on whether they are online or offline will have different security mechanisms.
There are two types of wallets in the electronic money: hot wallet and cold wallet. Hot-spots are the ones that you install as software for your computer or as an application for your smartphone, use the 12-word redundancy and pin code.
Cold wallets are hardware, located in a USB stick or a special device. Until now, security experts have always advised users to use cold wallets instead of hot wallets because it is safer. But according to a recent report, hard purses are not too difficult to penetrate. Frequent updates and careful key management are still important. No matter which wallet you use, you should ensure that your laptop or smartphone does not contain malware.