Cryptocurrency wallet providers are getting more sophisticated, but so are bad actors — which means the battle between security and threats is at a deadlock, says a hardware wallet firm executive.
“It will always be a cat and mouse game,” Ledger chief experience officer Ian Rogers told Cointelegraph when describing the constant race between crypto wallet firms adding new security features and hackers finding more advanced ways to access victims’ wallets.
Rogers said, unfortunately, the most straightforward scams work best because scammers rely on people making simple mistakes.
“People give their 24-word phrases to people every day, so as long as that happens, then they are going to go for the low-cost tax,” he said, adding:
“Anyone who asks for your 24 words is a criminal.”
Rogers highlighted a common crypto scam where victims get tricked by replies under “any post on Twitter about crypto,” with messages like “DM me,