This time it’s personal. DeFiance Capital founder “Arthur_0x” has been hacked having lost 78 NFTs. He believes his mobile wallet was compromised by an on-chain transaction.
This hack highlights the importance of operational security when dealing with the self-custody of crypto assets because even people in the highest echelons of the industry can be attacked. In Arthur’s case, he is baffled by how this happened to him as he wrote in a tweet “Hot wallet on mobile phone is indeed not safe enough.”
Was pretty careful and stuck with only using hardware wallet on PC until I start trading NFT more regularly.Had Arthur used a hardware wallet, otherwise known as a cold wallet, he still may not have been protected from this attack. Unlike a hot wallet, a hardware wallet is not always connected to the network. This feature can keep one’s private key and seed phrase safe from intrusion.
the security breach happened due to a transaction he made on-chain which may also have compromised the seed phrase or private key from a hardware wallet.
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