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Implications for Crypto Holders

The major takeaway from the incident from a cryptocurrency security standpoint is that printing bitcoin wallet recovery seeds from a networked printer may be an incredibly risky activity. Though not the case in this specific incident, the process of hacking an internet-connected printer could involve stealing files stored on the printer’s internal memory, which may include past or pending print jobs. Theoretically, this could give a hacker access to a user’s bitcoin wallet if the recovery seed print file was present on the device’s memory.

It also reinforces the importance of good security practices when dealing with digital copies of paper wallets. Such copies should ideally not be saved on networked devices including printers, mobile phones, and computers because that potentially exposes them to hackers. In the event that paper wallets are printed, this should ideally be done on a non-networked printer which preferably has never been connected to a network previously and does not retain copies of print jobs on its internal memory.