is that the person that had the Ellipal cold storage device, what they did to lose their 1.2% million XRP tokens, which is worth about 3 million bucks, is that they used the pneummonic or the uh seed phrase, and they for some reason they I don't know why they did this. They took the seed phrase from a cold storage device and they put it into a hot wallet, and everything got transferred over there. And because it's a hot wallet, it's connected to the internet.Uh hackers got into it and drained the account in ...

Security Risks - Smart home devices, including robot vacuums, are vulnerable to hacking, potentially recording sensitive information like passwords or seed phrases [1] Source - Cointelegraph Magazine highlights the security vulnerability [1]

Security Concerns - The industry acknowledges the risk associated with relying solely on seed phrases for securing cryptocurrency holdings [2][3] - Seed phrases written on paper are vulnerable to damage, loss, or smudging, potentially leading to irreversible loss of funds [2] - The prospect of securing substantial assets, such as $10 million, with a single piece of paper is perceived as inadequate by some users [3] Ledger Recovery Key - Ledger offers a recovery key as a backup solution for its hardware wallets [1] - The Ledger recovery key is considered a potentially useful feature, similar to Tandem, for safeguarding against seed phrase loss [1]