CCE Wallets and Asset Security 5

Question 1

What is a 'stealth address' in cryptocurrency privacy?

Accepted Answer

A one-time address generated by the sender so only the recipient can detect incoming funds

Answer

Stealth addresses use the recipient's public key to generate a unique one-time address per transaction that only the recipient can scan and spend from.

Question 2

What does 'SLIP-0039' define in the context of hardware wallets?

Accepted Answer

Shamir's Secret Sharing for mnemonic backup

Answer

SLIP-0039 (used by Trezor's Shamir Backup) standardizes how a BIP-39 seed can be split into multiple shares using Shamir's Secret Sharing.

Question 3

Which scenario best illustrates a 'SIM swap' attack targeting a crypto user?

Accepted Answer

An attacker convinces a carrier to transfer the victim's phone number to a new SIM, intercepting SMS 2FA codes

Answer

SIM swapping involves social-engineering a mobile carrier to reassign the victim's number, giving the attacker control of SMS-based 2FA and account recovery.

Question 4

What is the purpose of 'PSBT' (Partially Signed Bitcoin Transaction)?

Accepted Answer

A format that allows offline devices to contribute signatures before broadcasting

Answer

PSBT (BIP-174) is a standardized format for passing an unsigned or partially-signed transaction between devices (e.g., hot and cold wallets) to collect signatures before broadcasting.

Question 5

Why should users verify the receive address displayed on a hardware wallet's screen rather than trusting the host computer's display?

Accepted Answer

Host software may show a different address injected by malware

Answer

Malware on the host computer can replace the displayed address with the attacker's; the hardware wallet's trusted screen shows the genuine address.

(CCE) Certified Cryptocurrency Expert Practice Test

(CCE) Certified Cryptocurrency Expert Practice Test

CCE Wallets and Asset Security 5