[GoPlus SecWareX] Quiz Answer - Wallet Security: Protecting Your Private Keys and Mnemonic Phrases

Emergency Security Tasks

Mission Page URL: https://secwarex.io/task-detail/144?channelCode=BMX1NEQ6

SecWareX

 

 

Q1. Which of the following private key storage methods is more secure?

A1. Using a hardware wallet to store private keys

 

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Q2. Which situation is most likely to lead to a user's private key being compromised?

A2.  Sending the private key via Telegram

 

 

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Q3. What is the correct course of action upon discovering a private key leak?

A3.  Switch to a new wallet with secure backups

 

 

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Q4. Which statement about private keys and mnemonic phrases is incorrect?

A4.  You can share your mnemonic phrase with friends

 

 

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Wallet Security: Protecting Your Private Keys and Mnemonic Phrases

Recently, numerous users have taken to Twitter to publicly share details about losing funds from their wallets. The primary reason behind these losses is the exposure of private keys and mnemonic phrases. There have even been cases where users printed and pasted their mnemonic phrases on public water dispensers or viewed their wallet private keys in monitored public areas, leading to leaks. Please be aware that your wallet's mnemonic phrase and private key are equivalent to the ownership and control of your account's assets. To ensure the safety of your funds, always download the wallet app from the official website and create an offline backup of your private key/mnemonic phrase. Be cautious not to transmit your private key/mnemonic phrase online, and never share them with anyone else. Moreover, refrain from entering your mnemonic phrase/private key on any webpage or when claiming airdrops, as this can potentially compromise the security of your wallet.