Trezor X Account Promotes Fake Presale Coins Following a Suspected Hack

Trezor's official X account has been compromised through a suspected SIM swap attack. Following the hack, the X account has sent several fraudulent messages promoting fake presale tokens. Via the messages, the hacker requested that Trezor users should send crypto to an unknown wallet address.

Compromised Trezor Account Advocates Fake Presale Tokens

In a March 19 X post, renowned blockchain sleuth ZachXBT alerted his 528,000 followers about the suspected Trezor hack. A few minutes after ZachXBT's post, Scam Sniffer, a crypto security service, also reported the incident.

Community alert: Trezor X/Twitter account is currently compromised pic.twitter.com/hNm2OUjEgE

- ZachXBT (@zachxbt) March 19, 2024

The hacker used the Trezor official account to promote $TRZR, a fake Solana-based Trezor presale token. According to the reports, the hacker sent out messages asking users to move some crypto tokens to a Solana wallet address. The messages included some malicious links that directed users to addresses that could drain their wallets.

Also, the hacker mentioned a trending new Solana-based meme coin, called Slerf, as a measure to enhance the posts engagements and lure more investors to his scheme.Although the scam posts were quickly removed following notifications regarding the suspicious hack, the hacker succeeded in stealing some funds. ZachXBT disclosed that the hacker carted away almost $8,100 from Trezor's Zapper account.

In his follow-up tweet, ZachXBT stated:

Imagine hacking the Trezor account only to steal $8.1K (includes 25% drainer fee).

Many React About Trezor's Security Measures

The Trezor account compromise has raised concerns within the crypto community, with many skeptical about the account's security. An X user, Pledditor, touted how Trezor can function as a security hardware wallet firm when it can't even secure its social media account.

Also, another X user, DigitalHustlerX, reacted to the lapse in Trezor's security, noting that such breaches in a security company are shameful and reduce users' confidence in them.Similarly, a crypto commentator and X user, John Holmquist, saw the incident as a huge loss.

Holmquist expressed disappointment that the hardware wallet manufacturer failed to ensure maximum security on its X account.Notably, Trezor failed to include two-factor authentication (2FA) even as a security-focused firm. So, Holmquist cautioned the firm to take account security more seriously.

Meanwhile, this is not the first security breach on Trezor, as it faced a compromise in January this year. The earlier incident impacted almost 66,000 users with their contact information exposed. According to the company's response, there was unauthorized access to its third-party support ticketing portal.

The attack only affected any user with previous engagement with Trezor's support team since Dec. 2021. Following the incident, Trezor promptly contacted all affected users about the risk. Also, it assured them of the safety of their funds and the uncompromised state of all Trezor devices.

According to Trezor's website, it has sold more than two million hardware wallets to users since its launch in 2012. The company provides three different categories of products for its clients. Its wallet products can store over 9,000 coins offline for customers.

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