From Decrypt · By Jose Antonio Lanz
In brief
Trezor told partners their reseller authorization ends January 1, 2027, and that it will ship them no new stock, saying there is no evidence its devices were compromised.
Ledger's Donjon team says wallets sold by Southeast Asian reseller CryptoBilis held an implant that captures recovery phrases from the screen and sends them over LTE.
Onchain investigator Specter traced more than $86 million in suspected thefts, a figure Ledger says it has not verified.
Trezor is cutting its network of authorized resellers, telling partners their authorization ends on January 1, 2027, days after rival hardware wallet manufacturer Ledger started an investigation that eventually confirmed a hidden spy implant in crypto wallets sold through a third-party store.
The company announced the move on X on Tuesday, saying “there is not a single piece of evidence” that Trezor devices have been compromised. It described the cut as a preventive step taken out of caution.
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“Following recent supply-chain incidents, we decided to reduce the number of resellers so we can more effectively check those we work with,” Trezor wrote.
A hardware wallet is a small device that keeps the secret keys to your crypto offline, away from hackers. Setting one up produces a 24-word recovery phrase that works as a master password: whoever has those words can empty the wallet from anywhere in the world.
Ledger's Donjon security team says wallets sold by CryptoBilis, a reseller in Southeast Asia, contained an unauthorized component that reads the screen and decodes the recovery phrase when it appears. The spy implant then sends the words out over LTE, the same mobile data network your phone uses, through an eSIM, a SIM card built into the hardware. Ledger says the implant does not alter the chip that stores the keys or the device's operating system, so a tampered wallet looks and works normally.
Trezor CCO Danny Sanders shared the letter that the company sent to those providers that Trezor is ditching. “If you are receiving this letter, your authorization ends on 1 January 2027. On that date we will remove you from our list of authorized Trezor resellers,” the letter reads. “I am sorry. This decision says nothing about your effort or the way you represented us.”
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