Trezor Identifies Phishing Attack as Cause of Security Breach

Trezor Security Incident Details

SatoshiLabs, the company behind Trezor hardware crypto wallets, recently provided details on a security incident involving their X social media account. Here is a breakdown of the incident:

Phishing Scam, Not SIM-Swap Attack

• The compromise of the X account was a result of a phishing scam, not a SIM-swap attack as initially suspected.
• Only the X social media account was affected, ensuring the safety of all Trezor wallets for crypto transactions and storage.

Security Breach Timeline

Here is a timeline of events surrounding the security breach:

1. Unauthorized access to the X account was identified on March 19 at 11:53 PM.
2. The breach bypassed security protocols, including two-factor authentication (2FA) and a strong password.

Resolution and Impact

• All compromises have been resolved, and accounts within the Trezor ecosystem are secure.
• The security of Trezor hardware wallets and products remains unaffected.

Phishing Attack Details

The phishing attack on the X account involved a complex and calculated scheme:

• The plan began on February 29, 2024, with bad actors creating a fake entity in the crypto sector.
• The bad actor engaged in genuine crypto conversations to build credibility and reach out to SatoshiLab’s PR team for an interview.
• A malicious link was shared under the guise of a Calendly invitation, leading to the breach of the X account.

Lessons Learned

Despite having 2FA and other security measures in place, the incident highlights the importance of ongoing vigilance and security awareness.