Binance’s Proof of Reserves gets a security boost thanks to Hacken’s discovery
Hacken researchers identified and helped fix a bug in Binance’s zkSNARK-based Proof of Reserves system related to BasePrice overflow.
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A White Paper by Hacken’s Marketing Specialist
The number of crypto asset holders is growing every day; as a result, the question of storing funds safely is becoming more and more topical. Recently we wrote about different types of cryptowallets; but which of them are really safe? Hacken conducted some research and found that hard (cold) wallets are the safest and most convenient type of storage.
Having chosen TREZOR and Ledger Nano S as the best representatives, our specialist created a White Paper where both devices are evaluated.
First of all, it’s crucial to note that the perfect crypto wallet has not been invented yet; the one which doesn’t have any vulnerabilities and is completely convenient in use. Nevertheless, Ethereum Scam Database advises to use cold storage and mentions TREZOR and Ledger Nano S specifically. That’s why our focus fell on these models.
The White Paper has 3 main sections which are Tech Specifications, Exposure to Vulnerabilities, and Preventive Measures. The second section is worth extra attention, as it covers 6 possible attacks that the wallet holder may experience. Having reviewed our White Paper, you’ll learn the ridiculous reason why the ‘Man in the middle’ attack occurs most commonly with Ledger Nano S. Moreover, reading about the ‘Supply chain’ attack you will understand why the recent data breach occurred with devices bought on Amazon.
The aim of the White Paper is to ensure that you have chosen the right protection for your Bitcoins, Ethers, HKNs, or any other cryptos. Although neither TREZOR nor Ledger Nano S guarantees complete safety, today they are the most trusted ones. The Hacken team always strives to keep you up-to-date in the crypto world.
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It is the undoubtful fact that crypto currency is going to change our world for better.
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