There are two primary reasons why storing your private crypto keys in the cloud is a bad idea. First, your cloud provider represents a centralized honeypot that could experience a security breach, allowing cyber criminals to access your data. For example, in August 2018, a fourth man was jailed in the U.S. for hacking into private Apple iCloud accounts and leaking nude photos of Jennifer Lawrence, Kirsten Dunst, Mary Elizabeth Winstead and others. So it does happen. And it will probably happen again in the future.The second and more likely threat is the threat of users falling for a phishing scam. Phishing is a social engineering technique used by cyber criminals to trick people into handing their personal credentials over to a counterfeit website that is designed to look like the legitimate one.Meet "Adrian"Adrian uses a Mac computer and an iPhone for work and personal use. He uses iCloud for file storage. He’s a pretty careful kind of guy — he likes to make sure all of his files are backed up regularly in the Cloud and synchronized across his computer and mobile device. iCloud is safe — it has state-of-the art security — and it is owned and maintained by Apple. This means that Adrian’s data in the Cloud is likely to be safer than on his mobile device. After all, he could lose his mobile at any time or drop it into water.Adrian likes to trade crypto. He’s a customer of a crypto company called Coinbase. He prefers ...
