#hotwallet

Hackers exploited a supply-chain flaw to drain $27 million from BigONE’s hot wallet, forcing the exchange to reimburse users fully while tracing stolen crypto across multiple blockchains. This breach highlights persistent risks in crypto exchanges despite security measures.

Source: BleepingComputer

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What Is a Crypto Wallet?

A crypto wallet is not just a place to store coins.

It stores your private keys — the secret code that proves you own your crypto.

If you have the keys → you own the crypto. If you lose the keys → you lose the crypto.

A wallet keeps your keys safe and helps you:

receive crypto

send crypto

store crypto

track balance

Wallets can be online or offline.

What Is a Hot Wallet?

A hot wallet is connected to the internet.

Examples:

MetaMask

Trust Wallet

Coinbase Wallet

Binance Wallet

Exchange wallets

✔ Pros (Advantages)

Easy to use

Quick transactions

Free to install

Works on phone & browser

❌ Cons (Risks)

Can be hacked

Phishing links

Fake websites

Exchange can freeze withdrawals

Best for:

Daily trading

Small amounts

Beginners

Like carrying cash in your pocket — convenient but risky.

What Is a Cold Wallet?

A cold wallet is offline — no internet connection.

Examples:

Ledger

Trezor

Keystone

Paper wallet (rare)

✔ Pros (Advantages)

Very safe

Cannot be hacked online

You control the keys

❌ Cons (Risks)

Costs money

Can be lost physically

Not instant for trading

Best for:

Long-term holding

Large amounts

Safety first

Like keeping gold in a locker — secure and protected.

 Which One Is Better?

Both are important.

Best strategy:

✔ Keep small amount in hot wallet for trading, DeFi, daily use.

✔ Keep large amount in cold wallet for long-term storage.

This is like:

Wallet in your pocket for daily spending

Safe locker at home for big savings

Common Mistakes to Avoid

🚫Never share your seed phrase 🚫 Don’t click unknown links 🚫 Beware of fake apps 🚫 Use official download sources 🚫 Enable 2FA and device lock

Your keys = your crypto.

If someone gets your keys → they get your money.

Final Thought

Crypto wallets give true ownership of money. No bank, no third party.

For safety: ➡️ Hot wallet for convenience ➡️ Cold wallet for security

And as the ecosystem grows, projects like BlackCroww Coin ($CROWW) are building wallet-friendly, user-focused solutions where investors can hold, stake, and manage assets across a secure environment. BlackCroww’s goal is simple:

Details below 👇👇👇 

In brief Upbit said irregular transfers on the Solana network drained about $36 million across multiple tokens, including BONK, JTO, SONIC, and USDC. The exchange moved remaining funds offline and is coordinating on-chain freezes with issuers after securing a portion of Solayer tokens. The CEO of Dunamu, Upbit’s parent, said the exchange will fully reimburse customers. South Korea’s largest…

Are your cryptocurrency investments secure? 🤔 Learn the key differences between cold wallets and hot wallets, their pros and cons, and how to protect your digital assets from hacking and other threats.

💡 Whether you're a long-term holder or a daily trader, understanding your wallet options is essential.

👉 Discover the ultimate guide to crypto wallet security here: