🚀 Phantom Addresses Security Concerns Amid Criticism
#Phantom #cryptocurrency #security #vulnerability #userfunds #CloakdDev #acknowledgment #backup #seedphrases #alternativewallets
According to Odaily, the cryptocurrency wallet Phantom has addressed recent security concerns, stating that a reported vulnerability does not pose a risk to user funds. This statement comes after security researcher @CloakdDev criticized the platform. Phantom apologized for communication delays and reiterated its commitment to security, asserting that user funds are not threatened. However, the company did not provide further technical details or a timeline for any potential actions. Similarly, Cloakd did not offer technical specifics about the alleged vulnerability.
On January 21, Cloakd expressed disappointment with Phantom's response and initiated a discussion on social media platform X. The researcher remarked, "This has become a joke—I can't even get updates from their security team." Cloakd highlighted concerns over the delay, considering Phantom's scale and reach. Following Phantom's response, Cloakd countered the wallet's claims, asserting that the vulnerability "directly puts user funds at risk." The researcher advised Phantom users to take precautions, such as backing up their seed phrases and considering alternative wallets.#Phantom #cryptocurrency #security #vulnerability #userfunds #CloakdDev #acknowledgment #backup #seedphrases #alternativewallets
🚀 Hardware Wallet Security Concerns Highlighted by Expert
#HardwareWallet #SecurityConcerns #Bitcoin #Backup #DataLoss #CryptoSecurity #SlowMist #BTC
According to PANews, a security case involving the use of hardware wallets was shared by SlowMist's C0sine on the X platform. The case involved a user who stored Bitcoin in a hardware wallet, assuming it was secure. However, after several years, the user discovered that the wallet's battery had swollen and was unusable. Upon replacing the battery at a local electronics market, the user found that the wallet had been reset and, without a backup, the Bitcoin was permanently lost.
C0sine emphasized the importance of backing up hardware wallets and seeking professional assistance for repairs. He commented on the situation, questioning which hardware wallet was involved to avoid similar issues. He noted that having a mnemonic backup could mitigate such losses, but without it, the situation is dire.#HardwareWallet #SecurityConcerns #Bitcoin #Backup #DataLoss #CryptoSecurity #SlowMist #BTC
🚀 Web3 Communication Protocol Mail3 to Cease Maintenance by March 31
#Web3 #Mail3 #communicationprotocol #data #backup
According to Odaily, Web3 communication protocol Mail3 has announced that it will stop maintenance on March 31. Users are advised to back up important data to prevent loss. Mail3 was launched in 2022, allowing users to generate an email address using an address or domain name.#Web3 #Mail3 #communicationprotocol #data #backup
🚀 Bitcoin Core Identifies Wallet Migration Error in Latest Versions
#BitcoinCore #walletmigration #BDBwallet #error #funds #backup #Bitcoin #node #BTC
According to Foresight News, Bitcoin Core has reported a wallet migration error in its 30.0 and 30.1 versions. In rare instances, migrating older BDB wallets may result in the deletion of all wallet files on the same node. This issue could lead to the loss of funds if these wallets are not backed up.
Bitcoin Core clarified that only the migration process of older wallets is affected. All other functionalities remain unaffected. Users can continue to use Bitcoin Core, including existing wallets and running nodes without wallets.#BitcoinCore #walletmigration #BDBwallet #error #funds #backup #Bitcoin #node #BTC