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Is Trezor Prone to Breaches? Ex-Monero Maintainer Riccardo Spagni Seems to Think so 

 
Is Trezor Prone to Breaches? Ex-Monero Maintainer Riccardo Spagni Seems to Think so 
Breaking News / Monero / Crypto Market
  • Ever since the leading cryptocurrency came into existence more than a decade ago, breaching attacks have always been able to make the headlines.
  • The rising trend of hacks and security breaches alone show there has always been some pretty substantial development in regards to avoiding such activities.

Ever since the leading cryptocurrency came into existence more than a decade ago, breaching attacks have always been able to make the headlines. Even when it comes from established platforms that have seen security compromised due to malicious actors, it seems that no one is able to escape the dreaded scammers. The rising trend of hacks and security breaches alone show there has always been some pretty substantial development in regards to avoiding such activities.

The recent discovery of a vulnerability in the Trezor hardware wallets from the Kraken exchange has raised more questions in regards this. The Security Labs for the platform found that both Trezor One and Tezor Model T hardware wallets are extremely easy to breach. The attack relied on “voltage glitching to extract an encrypted seed”.

The former lead maintainer at Monero has claimed that ‘passphrase’ is the answer in the latest live stream of Magical Crypto Friends, Riccardo Spagni stated:

“Trezor, in particular, in its current form, is very prone to glitching attacks and so use a passphrase. It does make it more cumbersome, but at least the passphrase is not stored on the device, so it is almost like a second factor of authentication.”

The managing director of the Litecoin Foundation, Charlie Lee also made a point on the matter in the same live stream. He went on to highlight the implications of using giveaway wallets and how they impact breaches such as this. He further added:

“I have seen a lot of people giving away sealed Ledger. I think that is kind of a bad idea. Because you, kind of, want to make sure to buy your Ledgers and Trezors directly from the manufacturer. You never know if it is been tampered with and you do not want to take the risks.”

For more news on this and other crypto updates, keep it with CryptoDaily!

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