Fake Virtual Currency Wallet Trezor Apps in Foreign App Stores = report

a year ago

It was reported that a fake Trezor app may be listed on the Apple App Store in the U.S. and U.K. The fake app is called "Trezor Wallet Suite" and may be confused with the legitimate wallet app "Trezor Suite Lite" If you download the fake app and enter the seed phrase, you risk having your assets stolen, so be careful Fake apps have not been confirmed on the Japanese Apple App Store.

——Generated by ChatGPT Fake Trezor app A fake smartphone app for Trezor, a crypto asset (virtual currency) hardware wallet, may be listed on the Apple App Store in the US and UK. The legitimate wallet app offered by Trezor is called "Trezor Suite Lite," but its fake version is reportedly showing up higher in search results under the name "Trezor Wallet Suite. "*When we checked, "Trezor Wallet Suite" was not listed in the Apple App Store in Japan (at the time of writing). 🚨 Security Alert 🚨The first search result for "Trezor" in the Apple @AppStore is a malicious application that will request your seed phrase, allowing its operators to steal all of your crypto. the name of the malicious application is "Trezor Wallet Suite." you can verify... pic.twitter.com/vWsXTHpkYK Rafael Yakobi, a partner at The Crypto Lawyers, noted that the fake app had been listed on the Apple App Store for several weeks; he warned that users who entered a seed phrase (recovery phrase) in this fake app were at risk of asset theft. What is a seed phrase? A human-readable version of a wallet's private key, consisting of 12 to 24 English words, the seed phrase is required to unlock the wallet; if the seed phrase is lost, the wallet becomes inaccessible and the stored virtual currency may be lost. ▶️ Virtual Currency Glossary Trezor is a company that manufactures hardware wallets for virtual currency; devices such as the Trezor One and Trezor Model T can be used to store virtual currency offline. The Trezor Suite Lite smartphone app is designed as a child that syncs with the Trezor Suite desktop app and has limited functionality to "watch-only" (check balance); users can use it via Android and iOS devices to track asset status, receive virtual currency on the go only, and more. Related: Self-Managed Hardware Wallets See Record Weekly Sales Cold wallets are gaining more and more attention Hardware-based wallets, also referred to as "cold wallets," are used for tasks such as storing, transferring, and receiving virtual currency; these devices have the advantage of physically protecting assets from hacking attacks via online because they keep the wallet's "private key" disconnected from the Internet. In November 2022, the collapse of the major crypto asset exchange FTX and the apparent misappropriation of customer assets rapidly increased the need for a means of self-management, which led to a brief surge in sales of hardware wallets such as Ledger and Trezor. But on the other hand, a certain level of knowledge is required to properly utilize hardware wallets; there are always concerns about the complexity that comes with managing virtual currency on your own, and the risk of loss or theft of private keys and seed phrases. It is also pointed out that if the hardware wallet itself is physically taken away, it may be difficult to protect the assets: in the "RDP downgrade attack" technique, an attacker with special hardware and knowledge can manipulate (glitch) the voltage of the STM32 microchip to bypass the set protection and extract the flash memory contents. In response, Trezor explained that it is developing a new security configuration for its hardware wallets and plans to solve the problem of RDP attacks. What is a hardware wallet? A device that stores a private key; the device itself is not a wallet, but the private key to access the wallet is stored in the device. ▶️ Virtual Currency Glossary Related: Unciphered Finds Vulnerability in Hardware Wallet, Exploits Trezor Products?

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