In a recent statement, Trezor, a leader in the cryptocurrency hardware wallet industry, addressed concerns over a security breach of its official X (formerly Twitter) account. Despite stringent security measures, including the implementation of strong passwords and two-factor authentication, Trezor disclosed that unauthorized activity was detected on their X account on the evening of 19 March 2024, affirming that this did not affect the security of their hardware wallets or other products.

Incident Overview

Trezor’s report outlined the circumstances leading to the breach, emphasizing that the company adhered to the security protocols recommended by X, such as utilizing strong passwords and two-factor authentication methods beyond SMS. The breach involved unauthorized posts made from the Trezor X account, directing users to send funds to an unknown address and promoting a fraudulent token presale. Trezor was prompt in identifying and removing these posts, attributing the breach to a sophisticated phishing attack initiated weeks prior.

Breach Execution

Trezor elaborated on how the breach was executed, detailing a deceptive approach where an impersonator, under the guise of a legitimate entity within the crypto space, initiated contact with Trezor’s PR team. This engagement, meant to arrange an interview with Trezor’s CEO, evolved into a phishing attempt via a malicious link disguised as a Calendly invitation. Despite initial suspicions and a rescheduled meeting, the attackers succeeded in linking their Calendly app with Trezor’s X account through a deceptive authorization request, as confirmed by Trezor through X’s authentication logs.

Response and Measures

In response to the breach, Trezor immediately took steps to mitigate the impact, as mentioned in their official communication. This included the removal of fraudulent posts and revocation of all active sessions connected to their X account. Furthermore, Trezor has initiated a comprehensive security audit to investigate the breach thoroughly and to reinforce its defences against similar future attacks.

Reaffirmation of Security Commitment

In their statement, Trezor strongly reaffirmed its dedication to security, stressing that the incident has not compromised the security of its products. The company highlighted the design and security features of Trezor wallets, emphasizing that these measures keep user assets secure from online threats and that their commitment to security is evidenced by rigorous, industry-leading practices and the trust of over 1.5 million customers worldwide.

FAQs Addressed

Trezor also addressed frequently asked questions related to the incident, clarifying their ongoing security measures for social media accounts and reaffirming that the breach has no bearing on the security of Trezor wallets. The company advised against engaging with unauthorized links and confirmed that Trezor representatives would never request users’ recovery seeds. Moreover, Trezor commented on the necessity of interacting with third-party platforms, acknowledging the security challenges and their commitment to maintaining the highest security standards.

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