Kraken Security Labs has disclosed an important flaw in Trezor hardware wallets. More specifically, this flaw is specific to Trezor One and Trezor Model T. Fearfully, the security team successfully exploited this flaw in just 15 minutes. Kraken advises users of Trezor hardware wallets not to give their wallets to strangers. In addition, users should enable their BIP39 password.
In this regard, the Kraken security team has published an article and a corresponding video over the past few hours showing how the Trezor hardware wallet was compromised.
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"This attack relies on voltage faults to extract the crypto seed. This preliminary research requires some expertise and several hundred dollars of equipment, but we estimate that we (or criminals) can mass produce a consumer-friendly faulty device For about $ 75. "
"Then we cracked the encryption seed, which was protected by a 1-9 digit password, but was trivial for brute force cracking."
The Kraken team noted that these attacks were due to "flaws in the microcontroller itself." This means that Trezor can do nothing without redesigning the hardware.
Other security companies such as Ledger Donjon and Trezor knew the problem themselves, but Kraken was the first to make it public.
Trezor responded that the attacker could indeed tamper with the user's device. They further stated that this would be visible, meaning that an attacker would have to open the physical case to access the device's STM32 microchip. Like Kraken said, they recommend that you keep your device away from strangers.
In Binance's December 2018 security survey, fewer than 6% of respondents were concerned about physical attacks. Trezor said that although very few people focus on physical attacks, they take them very seriously.
When using pass phrases, Trezor recommends that you ask yourself some questions before continuing. These questions cannot be answered by the hardware wallet manufacturer, and if users think it is necessary, they should choose to enable the pass phrase function.
"Can you create a secure and easy-to-remember password? Does anyone know how much bitcoin you hold? Will the amount of bitcoin you hold make you a valuable target?"
The main advantage of a passphrase is that it is not stored anywhere on the device and therefore cannot be retrieved by a third party. At the same time, this also brings a risk: if you lose or forget your password, no one can help you retrieve it.
For cryptocurrency holders, a physical hardware wallet is one of the best options for protecting cryptocurrencies. That's because online wallets are likely to show their flaws to millions of people around the world via the Internet. The vulnerability of some Trezor models shows that hardware wallets are not the final answer, and cryptocurrency holders still need to be cautious.