How safe is Luno Wallet?

Puscifer

Puscifer

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Hi guys,

Question in title. I keep reading over and over that it is not wise to keep your Bitcoin in an online exchange wallet.

I have 2FA enabled on my Luno account and I feel relatively safe, but I don't want to keep all my eggs in one basket.

Would it be safer to make use of a app-based wallet like Mycelium? I am thinking of spliting my BTC between Mycelium and Luno. That way, if something were to happen, all won't be lost.

Will probably look into a hardware wallet in the future as my investment grows.

Your thoughts are appreciated.
 
There was a thread a couple days back where the OP and friends had their bitcoin stolen.

Edit: Here's the last response from the Luno rep

Lunomoney said:
As per the OP (and thread contribution by one of the victims): On Friday evening, 13 October 2017, funds were sent from two Luno customer accounts. Both customers created API keys with full access to their account. These API keys were used to authorise the transactions. There was no breach of Luno’s security: Luno was not hacked and this was not a “backdoor” entry. There are no vulnerabilities with using the API and customers who do use it are reminded to keep their API secrets a secret.

We’re reviewing ways to add additional security measures for our customers, which could help reduce the risk of these situations.

We take customer security very seriously and we spend an enormous amount of effort to keep our customers, their information and money safe and continue to review and implement the best possible security. We’d like to remind customers to enable two-factor authentication, use unique passwords and be vigilant in protecting themselves from unauthorised account access and Bitcoin scams.

We have been communicating with the two victims in this attack, providing them with information that could assist with the investigation.
Click to expand...
 
Keep a small percentage of bitcoin on Luno and the rest on an hardware wallet.
Hardware wallets like the Ledger Nano or the Trezor.
 
Ninja'd said:
There was a thread a couple days back where the OP and friends had their bitcoin stolen.

Edit: Here's the last response from the Luno rep
Click to expand...
Yes I saw this. It however looks like this happened due to their own recklessness.
 
Luno is an exchange meant to keep money you are expecting to buy/sell. It's not meant to be used as a wallet, the same way your real wallet is not meant to keep your life savings.
 
Who here uses a hardware wallet?

Which site do you recommend buying from?
 
Best to get a wallet on your desktop or if you can, a hardware wallet.

Desktop options
Jaxx (www.jaxx.io)
Exodus (www.exodus.io)

Don't forget to make backups of your passwords / private keys, even if you have to print out a note and put it in a safe.
 
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