Using a hardware wallet & still got drained?

You imported your previous MetaMask seedphrase into your ledger/trezor or vice-versa?

99% who are using it probably are still at risk because common misconceptions, & using it in the wrong way.

Here is what you need to know

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You might of heard this before but trust me, you can still be at risk, let's dive through some basics first

What are Crypto Wallets?

👇

Crypto Wallet will have a seed-phrase that is used to access your full wallet and proves ownership.

Screenshot from @MetaMask (software based wallet)

"I already know this", I know but bear with me 👇

One Seed Phrase = One Crypto Wallet = Multiple Wallet Accounts (each with a different address e.g 0x...)

Yes, you already know that as well but there is a reason for you, to recall and let this in your mind 👇

Each of these wallet accounts has a public key as you already know (Eth based ones for example)

0x39dDA.. Public Key 1 has (Private Key 1)
0x129F44.. Public Key 2 has (Private Key 2)

Each one has it's own PRIVATE KEY.

Is there a difference? 👇

A common misconception is seed phrase is the same as your private key.

Seed Phrase VS Private Key

Seed Phrase: is full access to all accounts with all wallets. (0xacD.., 0xFesa..., 0xi3De..,)

Private Key: only one account (0xacD ...) full access

Why is this important?👇

Lose a seed-phrase you lose it all.
Lose a private key you lose one account.

How can we lose them?

- Downloading an trojan/malware that get's access to your browser & software based wallets
- Browser 0-day vulnerabilities, that leads to exposing them.
- Screen-share

Worse?👇

Should use a hardware wallet now to protect yourself from software right? Yes, but HOW?

- Buy from the main source, the official website/reseller not 3rd parties. (Some can be tampered with)

What does this hardware wallet holds?👇

Your hardware wallet will hold your seed-phrase securely, will not be exposed as your software based wallets that are always almost online and vulnerable.

It doesn't contain your NFT, it contains your seed that proves you own this wallet & gives you access to.

When fails?

You bought a new hardware wallet but you imported the seed phrase of your e.g MetaMask.

That defied the purpose of using a hardware wallet.

Your seed-phrase could of been compromised before when you used this wallet from e.g MetaMask, it can be drained at anytime.
What else?👇

You created a new wallet, a new seed phrase on your hardware wallet?

BUT you imported it into a MetaMask ❌

You risk it all.

Never insert your MetaMask seed-phrase in your cold wallet nor your hardware wallet (Ledger/Trezor) seed-phrase in MetaMask.

It defies the purpose.👇

I seen many new and top profiles fall for this, and it is never a pleasant feeling to lose everything for few steps.

If you liked this thread, follow @Nourekx for more & RT this thread

Needs some love @Trezor @Ledger