Text prediction creates it easy for cybercriminals to attack you and steal your crypto wallet. Cryptocurrencies give a high rate of returns but are equally susceptible to cyber-attacks.
Predictive typing can speculate your cryptocurrency wallet’s private keys, creating your phone prone to cyber-attacks. A Reddit user named Tin has posted a thread on Reddit explaining how predictive typing can push you to lose access to your crypto wallet.
A crypto wallet holds your crypto assets, like your coins and non-fungible-tokens (NFTs). If you complete an online wallet on your phone, you’d be needed to re-enter your full seed—the crypto equivalent.
But, if you have predictive typing allowed on your phone, it will recognize your used words and suggest the second word as you type out the first one, especially if it’s a word you do not typically use.
Text prediction makes it easy for (cybercriminals) to attack you and steal your crypto wallet. “They could get their hands on your phone, start any chat app, start typing any words of the BIP39 list, and see what the phone suggests,” the Reddit user explained. BIP39 is a group of easy words to remember; this serves as a backup to retain your private keys if you lose them.
A private key is a confidential number used in cryptography and cryptocurrency. A private key is a significant, randomly-generated number with hundreds of digits. For clarity, they are usually represented as strings of alphanumeric characters.
For example, a cryptocurrency wallet consists of private keys and public addresses. Anyone can deposit cryptocurrency in a public address, but funds cannot be withdrawn from an address without the corresponding private key.
Private keys represent the absolute control and ownership of cryptocurrency. Therefore, it is vitally important to prevent one’s private keys from being lost or compromised.