And perhaps, many of them lost money not because of greed, but due to simple mistakes. For those who do not know what a cold wallet is, it looks like a PenDrive but larger. Some people had bought another cold wallet, of the same model, and replaced the old screen with the new one. These 24 words are generated randomly by the cold wallet software when you install it on your laptop. I keyed in one of the phrases into the new cold wallet that I had bought for about RM300.

Source: The Edge Markets May 31, 2021 04:07 UTC