Another type of attack involves hackers physically tampering with your hardware wallet. There have even been cases of counterfeit hardware wallets being shipped to unsuspecting customers. These fake wallets contain malware that allows attackers to steal private keys and drain your accounts.
What are the issues with digital wallets?
- wallets, are often conflated with digital wallet issues. Policy issues highlighted below are specific to wallets. Data Privacy and Security Companies offering digital wallets and payments companies generate, and may collect, information about users as part of their business models, raising concerns about privacy and data security.
Is it safe to use a mobile wallet?
- For most consumers the ability to pay by mobile offers greater convenience than carrying a traditional wallet with multiple credit and debit cards. However, using a mobile wallet is not without risks.
Can digital wallet services be targeted by DDoS attacks?
- Digital wallet services including cloud services used by mobile payment providers can be targeted with DDoS attacks by threat actors seeking to disrupt mobile payment services.
How can a mobile payment application be hacked?
- Additionally, fraud is possible with stolen bank and credit card accounts linked to the mobile payment application. A fraudster might also exploit weaknesses in the registration process to add another mobile device to the user profile to conduct fraudulent purchases. Installation of rootkits/malware