The US-based cybersecurity company Unciphered states to have successfully hacked into a Trezor T hardware cryptocurrency wallet by exploiting a hardware vulnerability.
The breach of ourย trending hardware wallet wasย created possible by physically taking apart the device using highly specialized tools.
The cracking of the hardware wallet would, toย putย itย anotherย way, only work if the attacker had physical possession of it, likewise as access to advanced tools and knowledge.
Unciphered, which specializes in recovering locked cryptocurrency in cases where forย example passphrases are lost or forgotten, stated they used their own โin-house exploitโ method that allowed them to extract the walletโs firmware.
This soonerย orย thereafter enabled them to crack the necessary pin code and seed phrase, thus getting access to the funds stored on the device, the company claimed.
Trezor T is one of the most trending cryptocurrency hardware wallets in the market today, and is made by Czech Republic-based company Satoshi Labs.
The entire process to extract the seed phrase from the Trezor wasย released on YouTube by Unciphered:
As theย latestย information of the hack broke, members of the cryptocurrency community onย Twitterย platform were quick to point out that a similar hack was likewise carried out in 2019 by specialists at the hardware wallet maker Ledger.
Between those who pointed that out was Rodolfo Novak ( likewise known as NVK), a veteran in the Bitcoinย (BTC) community who is likewise the CEO of the Bitcoinย (BTC) hardware wallet maker Coinkite.
Reportsย by Unciphered, onย theย otherย hand, the old vulnerability has already been addressed by Trezor, and nobody else has so far hacked the updated version of the hardware wallet with its new firmware.
Inย theย meantime, others onย Twitterย platform took theย chance to question the advice given out by some pastย week to move funds from Ledger hardware wallets to Trezor over concerns related to Ledgerโs new โ and optional โ โRecoverโ program.
โ[โฆ] if you have [a Trezor] you can keep it just make sure you have a strong passphrase and keep it up to date,โ ourย trending cryptocurrency influencer Udi Wertheimer said.
Addressing theย latestย information of the hack, Trezorโs chief technology officer Tomรกลก Suลกรกnka stated in a media statement that the attack โ seemsย to be a vulnerability wasย known an RDP downgrade attack [โฆ].โ
He alsoย mentionedย that this was communicated on the companyโs blog in early 2020, and pointedย outย that these types of attacks โrequire physical theft of a device and incredibly sophisticated technological knowledge and advanced equipment.โ
