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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?

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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.

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