Cold Wallets Are Not Completely Immune - While cold wallets are offline and more secure than hot wallets, they can still be compromised through physical access or pre-installed malware.
Supply Chain Attacks Pose Risks - Hackers may tamper with hardware wallets during manufacturing or delivery, embedding malicious code to steal private keys once activated.
Firmware Spoofing Can Lead to Theft - Unauthorized firmware updates can introduce vulnerabilities, allowing attackers to gain control over the wallet and access stored funds.
Physical Theft and Unauthorized Access - If a cold wallet is stolen, attackers can attempt to brute-force PINs or extract seed phrases, emphasizing the need for strong, unique passwords and secure storage.
Best Practices Enhance Security - Regularly update firmware from official sources, use multi-signature wallets, and store recovery phrases securely offline to mitigate hacking risks.