The Trezor Twitter Account Compromise: A Cautionary Tale

The Twitter account of Trezor, a well-known hardware wallet manufacturer, recently experienced a severe security breach. The compromise, likely executed through a SIM swap attack, led to the spreading of fraudulent messages on the platform. These messages promoted fake token sales and wallet scams, deceiving users and causing financial losses.

The alert about the suspected breach was raised by an anonymous on-chain investigator named ZachXBT on March 19. Posts from the compromised Trezor account advertised a fake “$TRZR” token presale on the Solana network, urging users to send funds to a malicious wallet address. Recognizing the suspicious activity, the Crypto security service Scam Sniffer also flagged the account’s behavior, exposing the fraudulent scheme.

The hacker managed to steal approximately $8,100 from Trezor’s Zapper account, showcasing the audacity and sophistication of the attack. In addition to the fake token presale, the compromised account also mentioned a new meme coin called “Slerf” on Solana, potentially as a tactic to engage users further. Links included in the posts directed users to scams designed to drain their wallets.

Prominent figures within the industry, such as John Holmquist, voiced their disappointment over Trezor’s apparent lack of robust security measures like two-factor authentication (2FA). The incident highlighted the need for Trezor to prioritize account security, given its prominent position as a hardware wallet provider. The breach was seen as ironic by members of the crypto community, pointing out the contradiction of a security-focused company falling victim to such an attack.

Despite facing setbacks, including a security incident in January that exposed user information, Trezor remains a favored choice in the industry. Having sold over two million hardware wallets since its establishment in 2012, Trezor’s products are trusted for securely storing over 9,000 coins offline. This incident serves as a cautionary tale about the importance of robust security measures in the crypto industry.