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I am a little bit worried about NFT scams.
My NFT wallet address is derived from the same private key that my ETH cold storage address. I am using a Ledger Hardware wallet.
My question is: If I approve a malicious contract with my NFT account (address) and it gets drained/hacked does it mean that my other address that’s derived from the same private key is also compromised?
No.
Given just an address you cannot get the public key.
Given just the public key, it's practically impossible to get the private key.
If you just approved a contract to handle/manage your NFTs, that's all they can do, handle/manage/steal your NFTs, but they cannot drain the ether balance of your address if they don't have the private key or trick you into signing a transaction that says so (trick you to sign a transaction that actually drains your ether in that address), but the other addresses derived from the same private key will not be compromised.
