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2026-08-09 09:41:00 GMT

Oren ☂️ on Nostr: Hardware wallets are hard to hack but can have disasterous bugs. Hot Phone wallets ...

Hardware wallets are hard to hack but can have disasterous bugs.
Hot Phone wallets are safer against bugs (can be fixed via online update), but can have disasterous hacks.

For example, while creating a 2-of-2 multisig on a hot phone wallet, the phone can show you a fake seed unrelated to the its declared xpub, and hide the real seed internally. At some random point, the phone can get a remote command to blackmail you, and only then you will realize you don't really have the real seed.

People won't buy more than 1 hardware wallet, and I don't know how to solve this issue. Maybe UX for the Phone Wallets that shows a seed + xpub, and let you decide whether to use it or pick another one? You could enter a few seeds that the phone generated into the hw wallet just to verify that the phone didn't try to cheat, then use the last one without entering it to the hw wallet.
Or maybe covenants?