Interview
Speaking to Cointelegraph, Entero Positivo argued typical seed phrase storage methods are too obvious, so he devised a way to hide a crypto wallet in plain sight.
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Recovery Seed News
A recovery seed or recovery phrase is a combination of 12,18 or 24 words chosen from a predetermined list of 2042 words from the BIP39 standard that defines how recovery seeds are made. With crypto investors seeking more secure ways of storing their cryptocurrencies and other crypto assets, hardware and software wallets are gaining traction, and recovery seeds are used to regain access to the stored crypto assets in the event of the loss or reset of a hardware wallet.
While some software wallets also offer the functionality of entering a BIP39 recovery seed, hardware wallets are more secure, as the recovery seed is stored on a blockchain rather than on a computer connected to the internet. In either case, it is critical to record and secure a recovery seed because forgetting or losing it could lead to forfeiting control of all the stored crypto assets.
- Follow up
Ledger’s “Recover” service may be concerning, but some crypto industry participants think the feature may onboard new users while helping crypto natives.
10426 - News
Ledger Recover is an over-the-air firmware update allowing users to back up their seed phrases by third-party entities if they opt-in to the new service.
18525 - Opinion
Ledger’s latest update, aimed at making private seed phrases on its wallets recoverable, was simply an attempt to innovate and improve user security.
3533 - News
Developers say third-party apps can’t access Ledger users’ keys without the device owner’s consent.
8352 - News
If the words of a 12-word seed phrase are known, it’s deceptively easy to enter the wallet and sweep the funds.
21556 - Video
James Check, the Lead on-chain analyst at Glassnode, explains why self-custodying your private keys has become more important than ever and how to do it in a few simple steps.
3004 - Explained
It’s crucial to remember your seed phrase, which is a string of random words produced by your cryptocurrency wallet when you initially set it up.
- Analysis
The safety of the recovery phrase is way more important than keeping the hardware wallet safe, according to executives at Ledger and Trezor.
18809 - Analysis
Are crypto inheritance solutions a centralizing force? To some, yes, but to others, decentralized solutions are out there.
4877 - News
Redditor Andre highlighted the ease with which hackers can use the text prediction feature to drain a user’s funds just by being able to type the first word out of the BIP 39 list.
30750 - News
As long as there's a recovery seed written down, a PIN and passphrase installed, it's theoretically impossible to hack the Trezor One, which debuted in 2014.
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