Cobo Vault Blogs

One single vulnerability is all a hacker needs! Like you, most people buy their first cryptocurrency on an exchange, and they leave them lying there simply because it’s convenient to do so. But what they don’t realize is that exchanges are sitting ducks for hackers. Cryptocurrency exchanges charge fees for trading and store funds for their customers, but they’re prone to hacks because they centralize the risk and store a part of their private keys online for real-time withdrawals.

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Cobo Vault was at Bitcoin 2019 from June 25th to 26th. We took the opportunity to showcase our products, the Cobo Vault and the Fireproof Cobo Tablet, and interact with insightful Bitcoin enthusiasts. We were excited at the opportunity to exchange information and talk with visitors and industry leaders from all over the world.
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Cobo Vault has added multisignature capabilities for Ethereum becoming the first hardware wallet to do so. Multisig technology provides added security to cryptocurrency transactions by ensuring that the keys required for a multisig cryptocurrency address are generated and stored on separate devices.
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That’s what we’ve learned from the recent Binance hack!

The global cryptocurrency exchange that lost 7000 BTC in a recent attack has driven home an important point —

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How do you ensure that the hardware wallet you just received was not intercepted at any point in the supply chain? If you haven’t given this much thought, it’s time you do. After all, when it comes to hardware wallets like the Cobo Vault, the easiest point of a supply chain attack is during transportation.
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