Heartbreaking! Cryptocurrency worth 50 million yuan vanished overnight from a cold wallet. According to Block security expert 23pds in an X post on the 6th, a crypto investor sought help, stating that after purchasing an unverified hardware wallet from TikTok, their assets were swallowed by a wallet that was tampered with "right from the factory".
While the police have not disclosed details, they have re-awakened crypto investors to the importance of purchasing cold wallets carefully!
Be Careful When Buying Cold Wallets Online
Non-official hardware wallets often have three hidden traps: first, the device is physically unsealed, with attackers pre-loading malicious firmware; second, the Seed Phrase is pre-copied, so when the buyer activates it, they essentially hand over their private key; third, lack of official firmware updates allows hackers to exploit known vulnerabilities.
23pds warns:
"99% of 'brand new, unopened' or 'special price' cold wallets online are fake and likely have been tampered with."
Even if the device is intact, users accidentally leaking their Seed Phrase can also cause assets to disappear. Offline storage can isolate network attacks but cannot prevent physical theft and social engineering.
Official Purchase and Self-Initialization are the Baseline
Block recommends purchasing only from official websites or authorized channels of brands like Ledger, Trezor, CoolWallet, then immediately self-initializing and upgrading firmware to ensure private keys are generated locally. Official channels also provide warranty and updates, reducing the risk of software and hardware being "abandoned".
Safe habits are equally important: avoid buying second-hand wallets; handwrite Seed Phrases offline and store them in separate secure locations; regularly check firmware versions; spread large assets across multiple wallets. These basic actions may not guarantee absolute safety, but at least prevent attackers from gaining an initial advantage.
While Taiwanese users are less likely to buy cold wallets from Taobao and TikTok e-commerce, local shopping sites still sell "second-hand, unopened", "70% off original price", "limited-time flash sale" hardware wallets. Compared to official pricing, they're only a few hundred yuan cheaper but could cost you your entire assets, so caution is crucial.
