Bitcoin developer explains how easy it is to hack hardware wallets

The attacks range from making copies of the hardware in a factory to zapping it with electricity.

Hacks are abundant in the crypto sector. Crypto exchanges were hacked by nearly $1 billion in 2018—leading many to advocate that people should never entrust their funds to centralized exchanges. But is it safer to take control of your own funds? One developer explains why that’s probably making things worse.

Hardware wallets—that look like USB sticks and store your private keys offline—are generally regarded as the safest way to keep control of your cryptocurrencies. Well-known brands include LedgerCasa and Trezor. But, according to Bitcoin developer Stepan Snigirev, speaking at London-based event Advancing Bitcoin, nothing is unhackable.

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