In October this year there was a massive hack on the Binance Smart Chain and hacks and scams are quite commonplace in the cryptocurrency world.
In August the Solana Foundation said a “malicious actor” had taken funds from approximately 8000 wallets linked to Solana. These funds amounted to around $6 — $8 million.
These funds were taken out of major browser-connected “hot” wallets including Phantom, Slope and TrustWallet.
Unfortunately, at the moment, wallet hackers and scammers seem to be a (disgusting) part of the defi space.
If you still only use browser wallets or are storing your money in exchanges keep in mind the popular saying of “not your keys, not your crypto”, meaning that you can’t assume those funds will always be yours.
I would strongly encourage every crypto user to invest in a cold wallet which is a cryptocurrency wallet that cannot be compromised because it is not connected to the Internet.
A few months ago I invested in my first Ledger wallet and recently I bought another two. These have brought me massive peace of mind.
The Ledger wallet integrates seamlessly with MetaMask and works well for all your degen defi plays. When making transactions all it takes is a few extra seconds for one extra confirmation.
I also became aware of people being scammed when purchasing compromised wallets from secondary marketplaces, so I recently became an official affiliate for Ledger and I would highly recommend only buying them here from their official stores.
From reputation I know Trezor is also a good option, but personally I have only used a Ledger and that’s what I can vouch for.
Stay safe.
You can join my Telegram group here , connect with me on Twitter here and on my brand new YouTube here.
My two best investments recently have been have been Furio and Wealth Mountain
Some of my recent articles:
https://medium.com/@Red-King/wc-miner-busd-offers-up-to-8-5-daily-1d4f8a010a27
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