NGRAVE’s crypto security study shows 54% of hard wallet owners’ keys are vulnerable

Seven retired of 10 crypto investors ain a hardware wallet, retired of which, 54% support their backup phrases connected paper, portion 50% of these investors support their afloat backup successful 1 place, according to a survey by Ngrave.

Study results for afloat backup successful 1 place

NGrave‘s 2022 Crypto Security Self-Audit study reveals that  50% of hardware wallet owners’ keys would beryllium compromised if idiosyncratic were to find their backup. The company’s CEO Ruben Merre commented connected the study and said:

“The results of our yearly Security Self-Audit amusement that determination are glaring gaps successful the methods investors are utilizing to guarantee the information of their assets, particularly astatine a clip erstwhile high-profile and high-valueN breaches are becoming progressively common.” 

He further elaborated:

“It is wide that determination is overmuch to beryllium done to unafraid the crypto assets of investors the satellite over, if the manufacture is to debar the hacks that we person seen successful caller months.”

As attacks connected wallets stay to beryllium a superior occupation for crypto holders, the assemblage has been moving connected caller methods to forestall irreversible losses and increase wallet security.

Other Findings

The survey included implicit 2000 unsocial respondents from 87 countries, chiefly Europe and North America. 

The numbers showed that astir fractional of the participants clasp little than $20,000 successful their portfolio, portion 1 retired of 5 investors has much than $100,000.

66% of the participants indicated that they similar to bargain and clasp alternatively of trading. Merre referred to this percent and said:

“The behaviour of crypto investors remains unchangeable compared to 2021. Given the quality of the survey, an overrepresentation of nontrader profiles was expected and confirmed.”

When it comes to storage, the numbers bespeak that 76% of the respondents person a portion of their portfolio stored connected an exchange, and astir each of them (92%) usage a two-factor authentication method.