Last updated on January 14th, 2018 at 11:50 am
After I connected MyEtherWallet with the Ledger Nano, if someone has my private key, can he normally log in and steal the coins? can he still choose the option with private key login, etc. and it will work? or who once chose the option Ledger Nano, must always choose this option for this address?
OK so if someone has your private key, then they can steal all your coins, it’s as simple as that. The Nano serves to keep your private key within its own hardware and never allow the private key to leak out, not to your own computer and not to the internet. It’s very reliable for this purpose.
So, if you generated the private key for MEW using the Nano, there’s no way an attacked could get your private key… Even if they hacked MEW, hacked your computer, hacked your internet connection and so on… There is a possibility that if they got physical access to your Nano and were really skilled at hardware hacking, that they could get your private key. The easiest way for them to get your private key would be for them to find your seed phrase backup, so you need to keep that very secure.
I hope that answers your other questions.
Please login or Register to submit your answer