🔑 Social login is not the same as a recovery phrase 🔑 This weekend, a flaw at a wallet login provider exposed the private keys of some Keplr wallets created with a Google or Apple account. About $6 million moved, partly as the provider rushed funds to safety. Wallets created with a recovery phrase or hardware device were reportedly not affected. 👉🏻 Social login can make wallets easier to use, but external systems may help protect or restore the key 👉🏻 Those systems become part of the security model you rely on 👉🏻 With a recovery phrase, you are responsible for backing up the key yourself 👉🏻 Neither option is risk-free, so choose deliberately for the amount you hold Convenience and control involve different trade-offs. Before using any wallet, understand where its key is created, stored, and recovered.
Thomas Jeegers, MBA, CFA, FRMShare

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