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     8 years ago  

    A report from vxlabs stated that:

    Even when your Jaxx has a security PIN configured, anyone with 20 seconds of (network) access to your PC can extract your 12 word backup phrase and copy it down. Jaxx does not have to be running for this to happen.

    Users who only use Jaxx on their smartphones are reportedly safe, although those who use desktop versions of the wallet may be at risk.

    Jaxx CTO Nilang Vyas replied that Jaxx is a hot wallet in which users shouldn’t keep large amounts. With Jaxx, they believe they have found a balance between easy-of-use, security, and portability. He went on to caution users not to use Jaxx if they are not comfortable with its security model, stating:

    Please please please, if you do not feel comfortable with our security model do not use our products. We’re are creating for the masses a multi-platform, multi-coin interface for the blockchain ecosystem where users are in full control of their digital lives.

    In other words, the team behind Jaxx is “very comfortable” with its security model for hot wallets, and recommends users store large amounts of funds in hardware wallets.