RE: Lessons From the Trust Wallet Hack - The Real Cost of Poor Wallet Security
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It's worth considering "what if" a similar attack happened to Hive Keychain. If somehow, a hacked version of Hive Keychain showed up in the app store.
- Because of Hive's four keys model, you have the option only to store the Posting key, and the damage would be limited. With only the posting key, assets cannot be moved.
- Powered-up Hive cannot be instantly transferred out of the wallet. It must be powered down first.
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These are great points. Thanks for bringing them to my attention. Being so new here and not having done ample research on the ins and out of Hive I didnt want to make assumptions or offer my opinion on it without due knowledge so I refrained from focusing on it in particular and just offered a general perspective on crypto security as a whole.
This is really good to know though. So, in theory to create a Hive "cold-storage" wallet you would create an account that you never connect to Hive keychain or import to any 3rd party tool at all, right? But I how would you withdraw from your cold-storage without technically compromising it? With BTC and ETH you can sign transactions while offline and then broadcast them without ever connecting the wallet to the internet.
Is this possible with Hive? Maybe I am missing something.
Thanks for the feedback btw.