Exodus Warning

FarmgirlRebel

FarmgirlRebel

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I know many of you are Exodus users, and I've used it too.

For long-term storage, I wouldn't suggest leaving any funds on a wallet that connects to the internet.

About a year ago, my Exodus account got compromised. Fortunately, I'd already moved all my BTC and altcoins to a hardware wallet, so the damage wasn't major.

But roughly 1k in Hbar was still sitting there...and it got cleaned out. No way to recover it, nothing, just vanished.

Normally I don't keep funds long-term in any internet-connected wallet, but I'd put off moving the Hbar...that was my error for delaying.

I'm sure plenty of you already know this, but for anyone new to crypto: load your wallet, do your transaction, then get your funds off it. Send to an external wallet or cash out...whatever you leave behind can be at risk. Or at least remember, don't leave funds on a wallet if losing them would be a problem for you.
 
Lucky_Charms said:

As someone who's still new to crypto, I think this serves as a solid caution. Would a hardware wallet be a secure choice?
Click to expand...
As long as you don't misplace it, it's secure. Since it's a small external device, losing track of it is possible. I store mine inside a little safe.
 
With a warm wallet, or when you leave crypto sitting on an exchange, there's always some risk involved.

My goal is to make things efficient enough on my end that Edge never holds more than $50-100 at a time — I'll purchase only what's needed in the moment and have it sent out within a couple of hours.

That said, if you're even considering holding more than $100 in crypto, I'd say it's likely worth the effort to learn about and actually start using a cold wallet.
 
FarmgirlRebel said:

I know many of you are Exodus users, and I've used it too.

For long-term storage, I wouldn't suggest leaving any funds on a wallet that connects to the internet.

About a year ago, my Exodus account got compromised. Fortunately, I'd already moved all my BTC and altcoins to a hardware wallet, so the damage wasn't major.

But roughly 1k in Hbar was still sitting there...and it got cleaned out. No way to recover it, nothing, just vanished.

Normally I don't keep funds long-term in any internet-connected wallet, but I'd put off moving the Hbar...that was my error for delaying.

I'm sure plenty of you already know this, but for anyone new to crypto: load your wallet, do your transaction, then get your funds off it. Send to an external wallet or cash out...whatever you leave behind can be at risk. Or at least remember, don't leave funds on a wallet if losing them would be a problem for you.
Click to expand...
In what way, specifically?
 
Eddiem0nster said:

ledger wallet is the solution
Click to expand...
That's the setup I run, and it's about as easy as it gets. Safe, too.

ZippityDooDah said:

FarmgirlRebel said:

I know many of you are Exodus users, and I've used it too.

For long-term storage, I wouldn't suggest leaving any funds on a wallet that connects to the internet.

About a year ago, my Exodus account got compromised. Fortunately, I'd already moved all my BTC and altcoins to a hardware wallet, so the damage wasn't major.

But roughly 1k in Hbar was still sitting there...and it got cleaned out. No way to recover it, nothing, just vanished.

Normally I don't keep funds long-term in any internet-connected wallet, but I'd put off moving the Hbar...that was my error for delaying.

I'm sure plenty of you already know this, but for anyone new to crypto: load your wallet, do your transaction, then get your funds off it. Send to an external wallet or cash out...whatever you leave behind can be at risk. Or at least remember, don't leave funds on a wallet if losing them would be a problem for you.
Click to expand...
In what way, specifically?
Click to expand...
I sure wish I had figured out how they pulled it off. Somebody got past whatever protection was on the wallet sitting on my laptop. They swapped my HBAR into SOL and disappeared with it. When I reached out to Exodus, the response amounted to basically sol.

I'm usually careful not to park much in warm wallets, but after years with Exodus I'd stopped worrying about it...my external wallet wouldn't take HBAR, so rather than hunt down a safer option I just left it sitting there...sighhh. Mostly I'm just incredibly grateful the balance wasn't bigger.

Leaving my laptop online like that was a mistake I should never have made.
 
This kind of thing wouldn't occur if basic cybersecurity principles were followed. Could you share more information about the way it was hacked?
 
Estarossa19 said:

This kind of thing wouldn't occur if basic cybersecurity principles were followed. Could you share more information about the way it was hacked?
Click to expand...
Like I said earlier, I don't have a clue how they pulled it off. The wallet was sitting on my laptop...somebody got in, converted HBAR into SOL, and vanished with it...usually I store all my stuff on a hardware/external wallet.

What I was trying to get across with this post is precisely what you're describing: a caution so folks think twice before leaving assets in warm wallets.

Just a bit of a nudge, don't do something dumb the way I did and keep funds in a wallet that remains hooked up to the internet.
 
Uhhh - my profile picture might seem sketchy, but honestly I misplace my regular wallet more often than not, so keeping track of a crypto wallet is completely unrealistic for me.
 
Estarossa19 said:

This kind of thing wouldn't occur if basic cybersecurity principles were followed. Could you share more information about the way it was hacked?
Click to expand...
Exactly this. The problem being described in the title isn't really about "Exodus" itself — it's a reminder to lock your stuff down properly. If 2FA, passkeys, and strong passwords weren't in place, then the blame falls on you rather than on the wallet.
 
IshimaruKenta said:

Estarossa19 said:

This kind of thing wouldn't occur if basic cybersecurity principles were followed. Could you share more information about the way it was hacked?
Click to expand...
Exactly this. The problem being described in the title isn't really about "Exodus" itself — it's a reminder to lock your stuff down properly. If 2FA, passkeys, and strong passwords weren't in place, then the blame falls on you rather than on the wallet.
Click to expand...
Fair point — the problem isn't Exodus itself, but having a wallet on a machine connected to the internet... cybersecurity 100% and letting your guard down can end up costing someone.
 
I treat Exodus as if it were a virtual credit card. Crypto only gets moved there when I'm about to make a transaction, and I aim to keep the balance under $100 at all times. Going further than that with other wallets and so on isn't something I want to do.
 
FarmgirlRebel said:

IshimaruKenta said:

Estarossa19 said:

This kind of thing wouldn't occur if basic cybersecurity principles were followed. Could you share more information about the way it was hacked?
Click to expand...
Exactly this. The problem being described in the title isn't really about "Exodus" itself — it's a reminder to lock your stuff down properly. If 2FA, passkeys, and strong passwords weren't in place, then the blame falls on you rather than on the wallet.
Click to expand...
Fair point — the problem isn't Exodus itself, but having a wallet on a machine connected to the internet... cybersecurity 100% and letting your guard down can end up costing someone.
Click to expand...
Maintaining solid 'cyber hygiene' means you have nothing to worry about.

A hardware wallet isn't immune to theft either (nor to breaking down or failing).

There's no flawless option.
 
Peptidesearch said:

I treat Exodus as if it were a virtual credit card. Crypto only gets moved there when I'm about to make a transaction, and I aim to keep the balance under $100 at all times. Going further than that with other wallets and so on isn't something I want to do.
Click to expand...
That's the right approach. Simple, with no concerns.
 
FarmgirlRebel said:

I know many of you are Exodus users, and I've used it too.

For long-term storage, I wouldn't suggest leaving any funds on a wallet that connects to the internet.

About a year ago, my Exodus account got compromised. Fortunately, I'd already moved all my BTC and altcoins to a hardware wallet, so the damage wasn't major.

But roughly 1k in Hbar was still sitting there...and it got cleaned out. No way to recover it, nothing, just vanished.

Normally I don't keep funds long-term in any internet-connected wallet, but I'd put off moving the Hbar...that was my error for delaying.

I'm sure plenty of you already know this, but for anyone new to crypto: load your wallet, do your transaction, then get your funds off it. Send to an external wallet or cash out...whatever you leave behind can be at risk. Or at least remember, don't leave funds on a wallet if losing them would be a problem for you.
Click to expand...
I appreciate you sharing this. I'm still pretty new to crypto and have been gradually working out the fastest way to move funds into it so I can keep them circulating. I do have money that needs to be moved out. Because of your post, I'm handling that this morning.
 
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