Trezor responds to wallet vulnerabilities, attackers need physical equipment to steal cryptocurrencies

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.

wallet

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.

"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.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

The exchange is frequently stolen, and where is the security of digital currency going?

In the food chain of digital currency, the exchange has always stood at the top. But if you want to wear a crown, you...

Blockchain

Hackers are getting smarter, with the largest number of exchange attacks ever in 2019

Source | bitcoinmagazine Translation | Huohuo Sauce Production | Blockchain Camp (ID: blockchain_camp) Currently, maj...

Policy

BlockFi Emerges from Bankruptcy, Ready to Pay Back Creditors and Recover Assets

In November, popular crypto lending platform BlockFi made headlines for their bankruptcy filing caused by the FTX con...

Blockchain

Graphic dismantling: Where did FCoin assets go? Is there a problem with the funding chain in 2018?

Author: PeckShield, the original title "graphic dismantling FCoin assets to its heyday already noticeable declin...

Blockchain

Derivatives track has become an industry consensus. Bitcoin will be up to 20,000 US dollars in the year?

2020 cryptocurrency market welcomes a good start: BTC rose more than 29% in January, and regained the 10,000 yuan mar...

Blockchain

The Bitcoin exchange is very hot, but the soil of the economics is very thin.

According to the coinmarketcap market data, the trading volume of Bitcoin in the past month exceeded the intra-month ...