You can plug a trezor into your phone and use it there - from trezor suite web - (I'm not sure how eth works with that though because I haven't used it on mobile - the same goes for other smart contract coins).
The nature of the "hack" doesn't seem to have been mentioned in the article so it's hard to say if anything about keeping your keys more secure would help if you've still got the same transaction to send (and if the bridge or pool were manipulated, you'd still incur losses).
Topic: Binance Hacked?! What we can do better to protect our funds? - page 2. (Read 306 times)
If I remember correctly the hack happens on the BSC bridge, so the exchange itself is 'safe'. Holding your assets on HW or other wallets won't protect you from stuff like this since the attack is not targeted at your wallet. What can you do is probably be careful when doing cross-chain bridge and pray that when you do it, the network won't fuck you up. In other words, don't use the network/buy an asset on a weak blockchain if you don't want any risk. IMO, this is more suitable on the altcoin board since we're discussing altcoin vulnerability instead of the exchange.
The solution is to use a wallet which gives you full control over your keys. You should use a open-source wallet, so you can be sure that you are the only one who has access to the keys,
In this way, you don't rely on any third party.
If you want 100 security and protect yourself from being hacked completely, the other requirement is that your keys should never touch the internet. For this purpose, a solution is to use a secure wallet like electrum on air-gapped device or use a safe hardware wallet.
Don't keep more than you can afford to lose in a mobile wallet.
By the way, binance exchange wasn't hacked. It was their centralized smart contract that was hacked.
(I'm not saying binance exchange can't be hacked. There's always the chance of that.)
In this way, you don't rely on any third party.
If you want 100 security and protect yourself from being hacked completely, the other requirement is that your keys should never touch the internet. For this purpose, a solution is to use a secure wallet like electrum on air-gapped device or use a safe hardware wallet.
Are mobile wallets the solution?
There's always the possibility of being hacked if your wallet is online, whether it's a desktop wallet or a mobile wallet. Don't keep more than you can afford to lose in a mobile wallet.
By the way, binance exchange wasn't hacked. It was their centralized smart contract that was hacked.
(I'm not saying binance exchange can't be hacked. There's always the chance of that.)
Apparently according to the news : https://www.google.com/amp/s/amp.theguardian.com/technology/2022/oct/07/binance-crypto-hack-suspended-operations Binance was hacked and it temporarily suspended the transactions from all sides as well, the issue was extremely bad since they nearly lost 500 million !! Please keep in mind that the revenue of Binance is 20 billion to just keep all the things in perspective. The hack was ofcourse resolved on time and the people whose funds were on there are safe now but let us examine what we can do to keep our funds safe.
Some of my friends who are new in crypto were storing everything on Binance, sort of didn't look at the previous hacks as well, So what do you think is the solution?
- Hardware wallets ?
- Paper wallets?
In cases we would be considering long term investment and trading would definitely become difficult, the time it would take for your coins to go to the exchange 💱 the price will get back up or down.
Are mobile wallets the solution?
Definately it's something to think about and I would love to know everyone's opinion on it, I do think personal internet safety comes first, from going on sites for free video surfing to downloading viruses off the internet without knowing.
What's your solution?
Some of my friends who are new in crypto were storing everything on Binance, sort of didn't look at the previous hacks as well, So what do you think is the solution?
- Hardware wallets ?
- Paper wallets?
In cases we would be considering long term investment and trading would definitely become difficult, the time it would take for your coins to go to the exchange 💱 the price will get back up or down.
Are mobile wallets the solution?
Definately it's something to think about and I would love to know everyone's opinion on it, I do think personal internet safety comes first, from going on sites for free video surfing to downloading viruses off the internet without knowing.
What's your solution?
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