Heard on the Block: “seed phrase”

🗺️ Like a treasure map to your life savings…

Crypto wallets guard the private keys that let people safely store and spend their coins, but those wallets can be lost or stolen. Someone who’s written down their “seed phrase” — typically 12 or 24 randomly generated words — can replace the missing wallet and use their seed phrase to regain access to their coins. Blockchain analysts say hackers stole $4.4M worth of crypto from users who likely stored their seed phrases on the cloud-based LastPass (the password manager got hacked last year).