- Crypto hardware wallet firm Trezor recently fell victim to a cyber attack.
- The Trezor hack resulted in the compromise of its official social media platform X account.
- Trezor previously fell victim to a security breach earlier this year.
The fast-growing nature of the crypto industry has been accompanied by evolving cyber threats, which are marked by malicious actors who often seek to exploit weaknesses in projects and entities through various hacks and scam methods.
Despite the bolstering of security measures across the industry, these threat actors continue to strike, and the latest to once again feel their burn is crypto hardware wallet firm Trezor.
Unraveling the Trezor Hack
In the early hours of Wednesday, March 20, crypto sleuth Zach XBT raised an alert of a security breach on the official Trezor X account.
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The hack, resulting from unauthorized access by a third party, was first detected when several suspicious token promotion posts were made to the account.
Touting a phony “$TRZR” token presale, the hacker demanded users to send SOL to a compromised wallet address. The attacker also included links that direct users to malicious wallet drainers, disguised as “bonus airdrops” for Trezor’s supporters.
The Trezor hack resulted in the loss of $8,100, raising eyebrows across the industry about the questionable nature of Trezor’s security standards. Many asserted the irony of a breach on a security-focused firm, demanding answers from the company. In response, Trezor took to social media to address user concerns.
Trezor Asserts Strong Security Measures
In a tweet, Trezor discarded claims that the X account was not well secured, asserting that the breach happened despite its robust protection features.
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“We experienced a security incident on our X/Twitter account overnight, despite robust protections including a strong password and 2FA,” the tweet stated.
Responding to the many questions regarding the cause of the security breach, including speculation of a potential SIM swap attack or insider involvement, Trezor emphasized that an investigation was underway to unveil the roots of the attack.
In addition, the firm encouraged users to maintain vigilance, reiterating that it would “never request funds or assets be sent to any address.”
On the Flipside
- Prior to the recent Trezor hack, the wallet firm suffered a data breach in January, which resulted in the compromise of sensitive user data such as usernames and email addresses.
- The January Trezor hacker has recently resurfaced, reportedly offering the sales of over 66,000 user details in exchange for BTC.
- The Securities and Exchange Commission (SEC) suffered a similar X account breach earlier this year.
Why This Matters
Considering its already tainted reputation, the recent Trezor hack raises concerns about the firm’s security standards as a crypto wallet provider and may further erode user confidence in the platform. However, beyond the immediate concerns, it highlights the ongoing targeting of the industry by malicious actors, underscoring the need for enhanced security measures.
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