Protect private keys (2024)

FAQs

Protect private keys? ›

If you're looking for a bulletproof way to store your private keys, then you should go with physical devices such as USB Tokens, Smart Cards, or Hardware Security Module (HSM). With hardware storage devices, the attackers must first gain access to them, which is significantly more unlikely in the real, physical world.

Keep your private keys offline, use hardware wallets for added security, and never share them with anyone. Regularly backup your keys in a secure location, and consider using secure password practices for an extra layer of protection.

Private keys can be stored using a hardware wallet that uses smartcards, USB, or Bluetooth-enabled devices to secure your private keys offline. There are two types of key storage, each with two types of wallets. Custodial wallets are wallets where someone else, like an exchange, stores your keys for you.

A private key is a cryptographic key used in an encryption algorithm to both encrypt and decrypt data. These keys are used in both public and private encryption: In private key encryption, also known as symmetric encryption, the data is first encrypted using the private key and then decrypted using the same key.

To securely store private keys in Linux, consider using a hardware wallet or encrypted file only you can access. Ensure the encrypted file has a robust and distinct password. Adhere to best practices like routine backups and security tool updates. Avoid public Wi-Fi and devices when managing private keys.

Encrypt the Private Key

Add a strong passphrase to encrypt the key, and keep the passphrase separate from the encrypted key. This way, even if hackers gain access to your private keys, they will have to guess the password and decrypt the private keys, giving the owner enough time to identify and eliminate the breach.

However, the loss or compromise of a private key can lead to significant financial losses, as it gives unauthorized individuals access to your assets. Better safe than sorry, you should take security measures to safeguard your private keys from theft or loss.

Encrypting Stored Keys

Where possible, encryption keys should themselves be stored in an encrypted form. At least two separate keys are required for this: The Data Encryption Key (DEK) is used to encrypt the data. The Key Encryption Key (KEK) is used to encrypt the DEK.

The most secure option would be to use a metal card or a “paper wallet.” It's also preferable to store a private key rather than a seed phrase on the paper wallet.

Can my private key be hacked? ›

Once installed on a user's device, malware can steal private keys in various ways. They might search the filesystem for files and data likely to contain these keys. Alternatively, they could monitor the keyboard and clipboard for users entering seed phrases or copy-pasting a private key.

Key distribution: The private key must be securely shared with the intended recipient. This step is crucial because if the key is intercepted or exposed, the encrypted messages can be compromised.

First of all, a clarification: "private key" is generally the counterpart to a "public key", and should NEVER be shared.

On the user's side, it is stored in SSH key management software or in a file on their computer. The private key remains only on the system being used to access the remote server and is used to decrypt messages.

In the console tree, navigate to the certificate you want to export. Right-click the certificate, select All Tasks, and then select Export. On the screen Welcome to the Certificate Export Wizard, select Next. To export the private key, select Yes, export the private key, then select Next.

Anyone with access to your private key can generate a digital signature for a transaction that steals the crypto from a blockchain account or exploits its permissions to hurt a project and its users. Individuals and blockchain projects alike are at risk of cybercriminals targeting them to steal their private keys.

Never hardcode keys. For hardware modules like HSMs, use tamper-resistant hardware with secure boot mechanisms. Store keys securely – Keep keys in isolated cryptographic modules like HSMs with locked-down access controls where possible. Encrypt software keys while at rest using other keys or passphrases.