drgo on Nostr: Except that’s incorrect. Your hardware wallet only knows with certainty the value ...
Except that’s incorrect. Your hardware wallet only knows with certainty the value of the assigned outputs. It believes the value of the input it is told by the software used to create the transaction.
Just because your hardware wallet says the fee is 500 sats doesn’t make it so. Hardware wallets require a node to tell it the balance of a utxo…hardware wallets can’t know this automatically.
Lying about utxo value isn’t a common attack vector because the only party standing to gain is a miner…and such an attack ruins the value of their primary product: block space.
A trusted but malicious attacker could easily screw an individual by lying about utxo value. This is why running your own node and connecting your wallet to it very much matters.
Just because your hardware wallet says the fee is 500 sats doesn’t make it so. Hardware wallets require a node to tell it the balance of a utxo…hardware wallets can’t know this automatically.
Lying about utxo value isn’t a common attack vector because the only party standing to gain is a miner…and such an attack ruins the value of their primary product: block space.
A trusted but malicious attacker could easily screw an individual by lying about utxo value. This is why running your own node and connecting your wallet to it very much matters.