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Trezor Wallet User Loses Funds to Hackers Despite Keeping the Seed Phrase Safe

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Tezor wallet user loses funds to hackers, though he was able to secure his private keys and haven’t’ used the wallet for days. 

  • Hacked 5 days ago and funds transferred to Uniswap.
  • Wallet was never used for 133 days prior.
  • Never connected Trezor during this time.
  • Seed phrases on a piece of paper in a bank safe.

The report claims that the hack successfully made way into the Trezor Wallet, moving out funds to Uniswap.

A recent tweet from Crypto Godfather (@cryptogodfa) explained how a friend’s Trezor offline wallet was hacked even when there was no security bridge or misplacement of access from his own end.

Read Also: User Loses Over A Million Dollars in Error Transfer

He claimed that the funds was transfered to Uniswap (a decentralized exchange synonymous with DeFi token listings). The wallet according to him was never used for 133 days prior to the hack incident.

Moreover he never connected the Trezor Wallet online during this period. He was able to keep the seed phrase offline by putting it down on papers which made it more impossible to be hacked.

But then, the question remains how the hacker was able to make a successful heist? 

Quick Facts: A seed phrases is a kind of lock to accessing your crypto wallet. Nobody can have access to your crypto wallet without your seed phrase/private key. On cases of device lose or loss of access to your wallet on mobile, you can use the seed phrase to reset password and recover funds.

Possible case scenarios here per the comments from users claim that probably, he lost it to bank save guards. Sam Samskies also suggests that “someone either accessed the bank safe, performed the Trezor seed extraction hack, or at some point they entered the words into a computer that was compromised or on a phishing site. Next time tell them to use multisig or at least a passphrase.”

Either ways, another tweet suggests the use of multisig feature to minimize possible hack going forward.

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