It is claimed that almost every exchange in the crypto money industry has weaknesses and no exchange wallet is safe. Hardware wallets are generally recommended for users for 100% security against this. Trezor and ledger Although wallets such as these have not been mechanically hacked until this time, this situation seems to have changed now.
Trezor Wallet Hacked!
A computer engineer and hardware hacker claimed to have managed to hack the seemingly impossible Trezor One wallet. The hacker actually got rich all of a sudden by taking the $2 million fund in the wallet.
Hacker Joe Grand, who lives in Portland and is also known as “Kingpin”, actually revealed everything with a YouTube video. When an investor named Dan Reich wanted to withdraw his $50,000 Theta (THETA) investment from his wallet in 2018, he realized that he forgot the password of his Trezor One wallet at that exact time. The user who entered the security password incorrectly 12 times stopped without the 16th incorrect entry. 16. Incorrect password entry, all assets are automatically deleted. However, the investment rose to $2 million over time, and Reich reached out to Kingpin on this issue.
Kingpin managed to find the password after 12 weeks of work. In fact, the key to this hack was the software replacement of Trezor One. Grand noticed that a Trezor One software update had begun saving the PIN and keyword to the Trezor One’s RAM drive. Using what was then known as a fault injection attack, the hacker hacked the RAM drive and displayed the password there.
Trezor, on the other hand, said in a statement on the subject that this gap has now been filled.
Hi, we just want to add that the vulnerability was already fixed, and all new devices are shipped with a fixed bootloader. Thanks to @saleemrash1d for his security audit. Learn more about our Security approach and responsible disclosure program here👇https://t.co/pyV1Ya6X8b
— Trezor (@Trezor) January 24, 2022