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How secure is a cold wallet?

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by COINS NEWS 88 Views

Recently there was this hack (or whatever it was) that emptied multiple wallets (hot and cold). This worries me because I don't know how this worked and how even cold wallets could be "hacked". I don't know if users just fell for some scams or if they were using services and got hacked because of that.

And at this point I don't know how secure my cold wallet is. I figured that if I don't actively allow a transaction, my wallet is safe and that my private key and seed phrase can't leave my cold wallet.

Am I correct in this assumption or am I at risk if I connect my wallet to a service like MEW or similar?

submitted by /u/RiseBasti
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