What are the security concerns regarding hardware cold wallets?
Physical devices have an
inherent
risk
of being lost, stolen, or damaged.
There are
fault-injection attacks
, in which errors are introduced to alter the intended behavior of the wallet making it unusable.
An attacker can
change the wallet’s firmware
exposing the private key and even diminish the device’s security.
An attacker may utilize
social engineering
to access the user’s private key.
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