Topic: Can someone stole your money with seed phase? - page 2. (Read 373 times)
I almost made the same mistake sometimes ago, before a friend of mine had to correct me properly on how to keep my seed phrase safe. Some people don’t realise how important and outmost the seed phrase can be, under no circumstances should someone else get’s hold of our private key wallet, all the funds ends up gets stolen by the other party. No other person should be accessible to your wallet apart from you alone, it is well advisable to keep your seed phrase far away from where anyone else can see or get hold of.
Will someone have access to your wallet without your device but the person manage to see your private keys and copy them without your knowledge. Will the person be able to withdraw your money or change password and block you from having access to your wallet?
Your wallet is merely a tool to interact with coins stored inside the Bitcoin blockchain, and this tool is almost useless without the actual keys that you mentioned as a "seed phrase." Anyone who has gotten access to your secret key can theoretically import it into another wallet and move your coins to an address to which you have no keys. This is called a transfer of ownership, and it actually occurs every time you are making a transaction with another person. The main point of this story is that coins are never stored locally on your device: instead, they are being held by thousands of computers globally, but only the person who knows the secret can move them around. This is why it is important to never disclose the location in which a backup of keys resides or share the key itself because it would mean that you are no longer the sole owner of coins.
Yes, what Charles-Tim stated is true, if someone has access to your private key he will automatically get an access to the funds on it. A private key can be presented by a physical wallet that holds your fiat money. If someone got access to your wallet, they are able to get the fund and anything within that wallet.
So we should take care of our seed phrase and private key and make it secure. You can check this thread discussion for ideas and advice on how to secure your wallet and/or check these articles for more information on securing your Bitcoin wallet:
What Are the Safest Ways To Store Bitcoin?
Securing your wallet
No, they can't block you from accessing your wallet since you also have the private key or the seed phrase, the person can have full access to the wallet thus he can move your funds to an address you don't have access to.
So we should take care of our seed phrase and private key and make it secure. You can check this thread discussion for ideas and advice on how to secure your wallet and/or check these articles for more information on securing your Bitcoin wallet:
What Are the Safest Ways To Store Bitcoin?
Securing your wallet
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Will the person be able to withdraw your money or change password and block you from having access to your wallet?
No, they can't block you from accessing your wallet since you also have the private key or the seed phrase, the person can have full access to the wallet thus he can move your funds to an address you don't have access to.
@ Charles-Tim and hosseinimr93 has said it all with a proper explanation. If someone has access to your seedphrase all he needs to do is to import your seed phrase to his wallet and he will take full control of your coins,infact he becomes the rightful owner because he can do whatever he wants with your coins without your knowledge.
In bitcoin noncustodial wallets password is not as effective as the seed phrase because I can feel insecure and choose to change my password,but I can't change my seed phrase. Your wallet can be accessible without your password,if you forget your password and have access to your seed phrase. If you do not back up your seed phrase and you lose your device which your wallet is on,it is impossible for you to get access to your wallet,even if you know your password. This is how important the seed phrase is.
In bitcoin noncustodial wallets password is not as effective as the seed phrase because I can feel insecure and choose to change my password,but I can't change my seed phrase. Your wallet can be accessible without your password,if you forget your password and have access to your seed phrase. If you do not back up your seed phrase and you lose your device which your wallet is on,it is impossible for you to get access to your wallet,even if you know your password. This is how important the seed phrase is.
Will someone have access to your wallet without your device but the person manage to see your private keys and copy them without your knowledge.
Everyone has access to your wallet seed is able to access your coins and move it.Quote
Will the person be able to withdraw your money or change password and block you from having access to your wallet?
A wallet seed contains your private key which is like a key to your house. With that key, everyone can get in your house and steal everything there.With Bitcoin wallet, we only need private key to move coins. You don't need a car, truck or anything to load up stuffs like stealing physical things in your someone house. Digitally is more simply.
Quote from: Mnemonic code words BIP39 explanation
Mnemonic code words are word sequences that represent (encode) a random number used as a seed to derive a deterministic wallet. The sequence of words is sufficient to re-create the seed and from there re-create the wallet and all the derived keys. A wallet application that implements deterministic wallets with mnemonic words will show the user a sequence of 12 to 24 words when first creating a wallet. That sequence of words is the wallet backup and can be used to recover and re-create all the keys in the same or any compatible wallet application. Mnemonic words make it easier for users to back up wallets because they are easy to read and correctly transcribe, as compared to a random sequence of numbers.
If someone can guess the password and find your address seed, then that person can do as they wish with the coins in your coin address. That's what I know from what I've tried to make an address on one of the wallets and that's what I've read.
Someone can only try to guess the password to your wallet file if they have the device where your wallet file is installed, so as you use a strong password for your wallet, also use a strong PIN for your device, so that no person can gain access into your device. Addresses don't have their individual seed, what they have is keys, but with hierarchical deterministic wallets, multiple addresses are gotten from a seed phrase, and with that seed phrase your addresses and their keys can be imported locally by whoever has it and be spent. 
Just a brief clarification: password isn't the same as passphrase in Bitcoin terms. The former is used when you want to encrypt the wallet file locally, so that a thief can't steal your money with that file per se. But it can very much steal it with the seed phrase. The latter (which is also called BIP39 passphrase) is used as part of the seed phrase.
- To recover a wallet which uses a custom passphrase, both the passphrase and the seed phrase are required.
- To recover a wallet which uses a password, only the seed phrase is enough.
- To recover a wallet which uses a custom passphrase, both the passphrase and the seed phrase are required.
- To recover a wallet which uses a password, only the seed phrase is enough.
Will someone have access to your wallet without your device but the person manage to see your private keys and copy them without your knowledge. Will the person be able to withdraw your money or change password and block you from having access to your wallet?
The address used to receive coins has a seed phrase. From this address the private key is obtained by the owner and from the coin address the owner can sign messages.When someone who wants to create a Bitcoin address in a wallet will go through several processes before the address is successfully created.
There is a process in making an address, an order is obtained to save the seed and there is a process for the prospective owner of the address to create a strong password.
Ok. The address was created successfully and the owner of the address allows the address to receive and send coins.
If someone can guess the password and find your address seed, then that person can do as they wish with the coins in your coin address.
That's what I know from what I've tried to make an address on one of the wallets and that's what I've read.
Not Your Keys, Not Your Coins.
Not Your Keys, Not Your Money.
Changing password actually depends on the type of wallet you are using, some wallet require some verification via sms or Gmail before you are being able to change your password and no one will be interested in wasting time doing all that.
It does not depend on the type of wallet if it is a noncustodial wallet. Only centralized platforms can do that and they are completely different from noncustodial wallets.After generating the same password, will the new wallet have the same address as the original wallet?
Let me break it down for you. A password only works on application or wallet you set it. For example if you set a password on the MetaMask wallet, when you import the seed or keys gotten from that wallet to a new wallet (say blue wallet), you do not need the password set on MetaMask to access this funds because the password only applies to the MetaMask wallet on that device only 
Changing password actually depends on the type of wallet you are using, some wallet require some verification via sms or Gmail before you are being able to change your password and no one will be interested in wasting time doing all that.
It does not depend on the type of wallet if it is a noncustodial wallet. Only centralized platforms can do that and they are completely different from noncustodial wallets.After generating the same password, will the new wallet have the same address as the original wallet?
Can you explain this very well, like it is not relating to what hosseinimr93 posted. If you have your seed phrase, you do not need your password to spend your coins, all you have to do is to create another wallet and set another password. But because of your password, another person can not access your wallet to steal your seed phrase or private key if you are careful of people around you and also careful of malware. 
All they require to access your wallet, is your seed phrase they actually don't need your device or have to change your password. Once they are done withdrawing your funds there's actually no use of the wallet anymore.
Changing password actually depends on the type of wallet you are using, some wallet require some verification via sms or Gmail before you are being able to change your password and no one will be interested in wasting time doing all that. So they just need your seed phrase just like @hosseinimr93 said, to generate a new wallet
After generating the wallet, will the new wallet have the same address as the original wallet?
. Will the person be able to withdraw your money or change password and block you from having access to your wallet?
Changing password actually depends on the type of wallet you are using, some wallet require some verification via sms or Gmail before you are being able to change your password and no one will be interested in wasting time doing all that. So they just need your seed phrase just like @hosseinimr93 said, to generate a new wallet
Take note that your password encrypts your wallet file locally, so that someone who has access to your device can't access your fund.
Someone who has access to your seed phrase can use it to generate the same wallet and spend your fund. The thief doesn't need your password at all
Someone who has access to your seed phrase can use it to generate the same wallet and spend your fund. The thief doesn't need your password at all
After generating the wallet, will the new wallet have the same address as the original wallet?
Will the person be able to withdraw your money or change password and block you from having access to your wallet?
Take note that your password encrypts your wallet file locally, so that someone who has access to your device can't access your fund.Someone who has access to your seed phrase can use it to generate the same wallet and spend your fund. The thief doesn't need your password at all.
I think, if someone manages to obtain your private keys without your knowledge, they can potentially gain access to your wallet and perform actions on your behalf, such as withdrawing your funds or changing passwords.
Wrong.They can spend the fund, but there is no way to change your password. As already said, your password encrypts your wallet file locally.
Will someone have access to your wallet without your device but the person manage to see your private keys and copy them without your knowledge. Will the person be able to withdraw your money or change password and block you from having access to your wallet?
I think, if someone manages to obtain your private keys without your knowledge, they can potentially gain access to your wallet and perform actions on your behalf, such as withdrawing your funds or changing passwords. Private keys are crucial for accessing and controlling your cryptocurrencies stored in your wallet. Maybe you should try transferring your private key to a physical safe or writing it on a paper than storing it to your devices. 
Will the person be able to withdraw your money or change password and block you from having access to your wallet?
A bit of correction if your seed is already compromised and someone has access to your seed he can able to withdraw or transfer BTC to another wallet but by changing the password and blocking you then no they can't do that unless they have remote access to your PC but even they can do that anytime you can recover it by using your seed backup.
Your seed phrase or your private key is enough for someone to compromise you wallet and spend your coins. Only what you will see is that your coins has been spent. Your seed phrase generates the private key, the private key generates the public key and the digital signature needed for spending your coins. Keep your seed phrase and private key safe.
Will someone have access to your wallet without your device but the person manage to see your private keys and copy them without your knowledge. Will the person be able to withdraw your money or change password and block you from having access to your wallet?
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