Hot wallets are convenient and are how most people interact with applications onchain. The keys sit on a device that also runs a browser, which is the reason malware and malicious pages are a realistic threat to them.
A sensible pattern is to keep only working balances in a hot wallet and hold anything material in cold storage, so that a single bad signature has a bounded cost.
Related terms
Cold wallet
A wallet whose keys never touch an internet-connected device; signing happens on the device itself.
Wallet drainer
A malicious contract or site designed to obtain signatures that let it withdraw a victim's tokens.
Token approval
Permission you grant a contract to move a token on your behalf, which stays in force until you revoke it.
More in Wallets
Trying to work out what happened to your funds?
The first review is free and we set out scope and price in writing before any paid work.