When it comes to malwares and online attacks then I don't believe wallets on desktop devices are any safer than wallets on mobile phones unless this device is totally air-gapped (offline wallet).
If your concern is the $5 wrench attack or losing your phone then having your coins on a mobile phone or carrying a hardware wallet with you when you go out doesn't make much difference, supposing your mobile and the wallet app are secured with a strong password/pin.
What you should do is to keep all your coins on an offline wallet and keep on your mobile wallet just a small amount enough to cover your expenses while being out.
Topic: Phones on mobile wallet becoming riskier - page 3. (Read 641 times)
Offline wallets are most secure, a good idea is to transfer just small amount from offline wallet to online wallet
Yes, this is another display is wisdom in handling the wallet and the risk attached to the mobile wallets is reduced for the sake of those that can't do without having the use of online wallet especially those with centralized exchanges making daily trading, except for the case of those who failed to realize the danger in putting all their coins on CEX.
The thing is phones, especially online phones have never been a good idea, at least for storing a significant amount of Bitcoin.
I strongly agree with this but I've come to think of it in some situations whereby the need for the use of a mobile phone and wallets on them couldn't be avoided because its an easy, fast and reliable means to makes any cryptocurrency transactions without having to worry about location, device or any other barriers before one can enjoy the suitability in making any transaction.
But just as advised, i will employ users to make use of an offline wallet and preferably with the use of electrum mobile wallet which could serve an open source but i will also give a warn to avoid the automatic backup of the wallet keys on cloud or google drive.
Classic sensationalist headline, DdmrDdmr is spot on in my opinion. The thing is phones, especially online phones have never been a good idea, at least for storing a significant amount of Bitcoin. However, I can see their uses for small amounts. Android has a good permission system, the locking system on it is decent, depending on the options you choose i.e don't use a pin or fingerprint, use a password. The problem with phones is people are more inclined to download apps which they haven't verified or know they can trust, and also connect to networks which they don't trust. Otherwise, they are pretty decent apart from a few issues.
The fact is, even if you do have a Bitcoin wallet on your phone, it should still be encrypted, and should lock after exiting the app even if it has been kept in memory or the open apps drawer, and you should be able to hide the icon. Android, at least custom ROMS usually have this option.
The fact is, even if you do have a Bitcoin wallet on your phone, it should still be encrypted, and should lock after exiting the app even if it has been kept in memory or the open apps drawer, and you should be able to hide the icon. Android, at least custom ROMS usually have this option.
Naaah, what makes you think that a desktop PC is safe from malware? PC is always vulnerable to attacks every minute unless you don't do the following on the PC
1. Browse the internet.
2. Download stuffs online.
3. Play PC games on your PC.
There are many ways how malware or spyware can land on your PC, smartphones aren't like this.
1. Browse the internet.
2. Download stuffs online.
3. Play PC games on your PC.
There are many ways how malware or spyware can land on your PC, smartphones aren't like this.
Regardless if it's easy to trace the funds to the thieves or not, it's obviously simply not worth risking. $5 wrench attacks have always been a risk, since like forever even before Bitcoin existed. Hence why I'm a hard advocate of simply not letting other people know that you own bitcoin/cryptocurrencies.
https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md
https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md
While I do agree that there is a risk to have easy access to a wallet through a very easily visible app on one’s phone, and I also commented on the fact on my local board within a greater context, I do find that the reported cases by the media:
- Are not quantified, to get a sense of proportion or magnitude, in order to see how widespread it is.
- Are exemplified through only a handful of cases, which may be lucky lateral findings.
The thugs do have enough crypto knowledge to make the crypto TXs though, and possibly acting in the financial district of London, do have crypto in mind as a by-product of their mugging expectations.
The reported cases though do not really tell us exactly how they accessed the victim’s accounts; whether they were cohered to hand the passwords over, or whether they has some kind of auto login. I’d suspect the former.
Some phones do have features to hide, or at least make app less easy to spot, and it could be a thing to consider. Nevertheless, I figure one also has to be rather conscious, and in addition, gain a habit of deleting the apps from the list of recent apps or background running apps.
- Are not quantified, to get a sense of proportion or magnitude, in order to see how widespread it is.
- Are exemplified through only a handful of cases, which may be lucky lateral findings.
The thugs do have enough crypto knowledge to make the crypto TXs though, and possibly acting in the financial district of London, do have crypto in mind as a by-product of their mugging expectations.
The reported cases though do not really tell us exactly how they accessed the victim’s accounts; whether they were cohered to hand the passwords over, or whether they has some kind of auto login. I’d suspect the former.
Some phones do have features to hide, or at least make app less easy to spot, and it could be a thing to consider. Nevertheless, I figure one also has to be rather conscious, and in addition, gain a habit of deleting the apps from the list of recent apps or background running apps.
Offline wallets are most secure, a good idea is to transfer just small amount from offline wallet to online wallet if you see online wallet necessary for making transaction often or get a hardware wallet which is cold wallet that you can use often for making transaction. If you need online wallet for making transaction, it is not good to use a mobile phone wallet, use a desktop wallet that you do not carry about like phones and that is safe from malware.
See what is happening in London
‘Crypto muggings’: thieves in London target digital investors by taking phones
These mugglers will know that crypto transactions are not reversible and if crypto wallet is set up properly, it will be very difficult to trace the muggler after the attack. People should not be telling people of the bitcoin and altcoins they have because no one can be trusted, anyone can send someone to attack. This has just been the start, there are many other harmful ways there can be people that can be physically attacked to steal cryptocurrencies from them, some might lead to wound or beyond. Let us be careful.
See what is happening in London
‘Crypto muggings’: thieves in London target digital investors by taking phones
Quote
Thieves are targeting digital currency investors on the street in a wave of “crypto muggings”, police have warned, with victims reporting that thousands of pounds have been stolen after their mobile phones were seized.
Quote
One victim reported they had been trying to order an Uber near London’s Liverpool Street station when muggers forced them to hand over their phone. While the gang eventually gave the phone back, the victim later realised that £5,000-worth of ethereum digital currency was missing from their account with the crypto investing platform Coinbase.
Quote
In another case, a man was approached by a group of people offering to sell him cocaine and agreed to go down an alley with them to do the deal. The men offered to type a number into his phone but instead accessed his cryptocurrency account, holding him against a wall and forcing him to unlock a smartphone app with facial verification. They transferred £6,000-worth of ripple, another digital currency, out of his account.
Quote
A third victim said he had been vomiting under a bridge when a mugger forced him to unlock his phone using a fingerprint, then changed his security settings and stole £28,700,
Quote
In another case, a victim told police that his cards and phone were pickpocketed after an evening at the pub, with £10,000 later stolen from their account with the investing platform Crypto.com. The victim was using his phone in the pub and believed thieves saw him type in his account pin, the report said.
These mugglers will know that crypto transactions are not reversible and if crypto wallet is set up properly, it will be very difficult to trace the muggler after the attack. People should not be telling people of the bitcoin and altcoins they have because no one can be trusted, anyone can send someone to attack. This has just been the start, there are many other harmful ways there can be people that can be physically attacked to steal cryptocurrencies from them, some might lead to wound or beyond. Let us be careful.
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