Recently, there have been disturbing headlines on the web: "all Bitcoin seeds leaked " 😱. This kind of news quickly caused panic among cryptocurrency users. But do we really have anything to fear?
In this article, we explain:
Seed, also known as recovery phrase or mnemonic phrase, is a set of 12 or 24 randomly generated words that are created when setting up a cryptocurrency wallet.
➡️ This is the key to all funds in your wallet.
➡️ Allows you to regain access to cryptocurrencies if you lose your device or app.
🔒 Note: seed phrase should be stored offline and never shared with anyone. This is your digital "master password".
No. Despite the dramatic headlines, there was no massive seed leak. So why all the fuss?
🔍 BIP39 word list - is a publicly available set of 2048 words from which seed phrases are built.
🧠 The fact that this list is public does not mean that someone knows your seed. What matters is the unique and random order of words.
📊 Example: for 12 words there are more than 2¹²⁸ possible combinations. This is a number so large that it is impossible to guess using the brute-force method.
Although there has been no seed leak, some risks are as real as possible:
The most common reason for the loss of funds is.... ourselves.
There have been reports of advanced attacks that involve manipulating the signing of transactions.
⚠️ However, this only applies to compromised devices and requires physical or remote access to the wallet.
🔐 A few golden rules:
📰 Headlines about "leaking all Bitcoin seeds" are untrue and result from a misunderstanding of the role of the public BIP39 list.
🔐 The real threats are first and foremost:
If you follow the basic safety rules - you can rest easy 😴
Seed is the key to your wallet. Treat it like the most precious treasure! 🗝️✨
Leave a comment 💬 or contact us! We will be happy to help you better understand the world of Bitcoin and secure your investments 🚀