Cypherock
  • Introduction
  • Design Decisions
    • The balance between security and convenience
    • Cypherock X1 Hardware architecture
      • Using ultrasonic welding for the X1 Vault enclosure
      • Encrypted NFC communication for X1 cards
      • Using Javacards instead of MicroSD
      • Choosing USB vs QR Code
      • Why the X1 cards are not upgradeable
    • Cypherock is BIP39 compliant
    • Private keys should be near to impossible to extract
    • Conflict between trusted parties should not result in unauthorized access
    • Using Shamir Secret Sharing vs. Multi-sig
      • How is Shamir Secret Sharing implemented within Cypherock X1
      • Why Cypherock has a default 2/5 threshold scheme
      • Rejected Key Schemes
    • PIN Protection on Cypherock X1
      • Difference between backing up your PIN vs. Seed Phrase
  • Security Overview
    • Introduction
    • Keylabs - Third Party Security Audit
    • Remote Attacks
    • Physical Attacks
      • $5 Wrench Attack
      • PIN Brute Force Attack
      • Evil Maid Attack
      • Flashing Malicious Firmware
      • Side Channel Attack
      • Supply Chain Attack
  • Cypherock X1 Features
    • Eliminate messy paper backups
    • Open source with secure elements
    • Use Cypherock as a seed phrase vault
    • All-in-one Portfolio Manager
  • Getting Started
    • Download cySync
    • Import Seed Phrase from existing BIP39 compatible wallet
    • Generate a new wallet with Cypherock X1
    • How Cypherock generates your 24-word seed phrase
    • Best practices in keeping your X1 cards secure
      • Use the protective card sleeves
      • Geographical Seperation
      • Choosing your guardians
    • How do I know I am not locked-in to using only Cypherock X1
    • How do I know my Cypherock X1 is genuine?
      • Email 2FA for Product Authentication
    • How to recover your Crypto assets in the case of loss or theft
    • What happens to my Cypherock X1 if Cypherock goes out of business?
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  1. Design Decisions
  2. PIN Protection on Cypherock X1

Difference between backing up your PIN vs. Seed Phrase

A seed phrase backup compromise implies an absolute loss of funds. Regardless of protections that are in place on the wallet, if an attacker at any point in time is able to compromise the seed phrase of the wallet, there are no protections against an unauthorized transfer of assets using it.

Cypherock X1 eliminates the need to backup the seed phrase, however, someone might argue that if a person forgets the PIN set on the wallet, she will not be able to recover the assets. Until Cypherock releases the inheritance service (Q3 '23), this is unfortunately true. Since Cypherock X1 is a trust minimalized product, even Cypherock does not have a recovery mechanism to recover the user's assets. We at Cypherock advise users to back up their PIN somewhere in case they feel they might forget their PIN. A PIN backup is still significantly safer than a seed phrase backup. This is because Cypherock X1 uses a 2/5 cryptographic threshold to recreate the private key. Therefore, to access functions of the wallet with PIN protection, an attacker would have to have access to the PIN, and at least 1 X1 Vault and X1 Card or 2 X1 Cards, dramatically increasing the effort required to compromise the assets secured by a Cypherock X1.

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Last updated 2 years ago

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