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I am asking this question because someone (malicious) else has access to a seed phrase I created and transacted for the first time. So the wallet is active in the blockchain.

Currently the seed phrase doesn’t store any founds on my end. But I imagine can it still be used. Is it useful in anyway ? Can somebody explain if there are risks associated to This situation?

I’m not using that wallet I created a new one to store my coins.

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Anyone with the knowledge of a seed phrase has complete control over the funds stored with that seed phrase. It is not safe to use, and any transactions made with it in the past can be linked together as belonging to one wallet, that's all. I am not sure why someone malicious (as you call them) would send funds to a seed phrase they know is not under their complete control, since you could easily sweep them to yourself.

As an example, I went to https://iancoleman.io/bip39/ and generated this seed phrase:

fabric nice tissue private subject decrease crazy repeat illegal pulp depart reward

Since I've shared it here it is now insecure and sending any funds to an address associated with it (e.g. bc1qq6hkw49wexxsd4n3avfwjkc06fejdwlxgxzqcq) means someone else will eventually take them. But as long as I don't use this seed phrase in the future, I have not compromised my security in any way.

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  • Could a miner be interested in a seed ? Since their job is to process/verify transactions do you think he can use it to verify transactions for himself ?
    – Casio_1
    Jan 24, 2022 at 21:07
  • A miner has no special abilities with regards to a seed. Like any actor, a miner with a seed would still need someone else to send/have sent bitcoin to an address derived from that seed in order to steal anything. Jan 26, 2022 at 7:39

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