Security analysts highlighted the dangers of buying cold online wallets, especially those sold at high discounts. In an article on X, the Director of Information Security of Slowmist, 23PDS, said that “private keys are often exposed when the wallets are falsified before the sale”. He urged crypto users not to risk large sums on devices that are only slightly cheaper, warning that such savings often cause major losses.
A former Bitmain employee, who knew the victim personally, described the apparatus compromised as a “carefully designed hot trap”. He revealed that the victim’s assets had been bleached by services linked to Huiwang in a few hours, leaving little chance of recovery. The incident is added to the recent cases in which the hardware or software which is supposed to guarantee the security of cryptographic assets has been compromised during production or packaging.
In May, a Chinese printers company made malware, which spread and led to a loss of nearly $ 1 million in Bitcoin. Kaspersky has also reported thousands of counterfeit Android smartphones with preinstalled malware targeting crypto holders.
