Kaspersky’s Warning: Protect Your Crypto Wallet Now

The well known security firm told cryptocurrency users that they should only use authentic hardware wallets. Russian popular cybersecurity firm Kaspersky has warned users about crypto hardware wallets.

On May 10, Kaspersky’s cybersecurity expert Stanislav Glovanov wrote about the problems with fake hardware wallets impersonating wallet company Trezor. According to the blog post, the fake wallet allowed fraudsters to steal Bitcoin through a manipulated microcontroller, which allowed attackers to gain control of users’ private keys.

The Wallet Was Exactly The Same

The victim reportedly purchased a fake hardware wallet disguised as Trezor’s advanced crypto wallet, the Trezor Model T. The fake wallet looked just exactly the same as a real Trezor Model T wallet which provides the standard wallet function.

Golavanov said, “When using the wallet, nothing seemed to be suspicious. All functions worked as okey and the user interface was no different from the original.”

According to the Kaspersky team the attackers managed to access users’ crypto assets by modifying the internal memory. The actual mechanism of the theft still remains unclear Golovanov said, noting that the problem was caused by a typical taderic chain attack.

Kaspersky’s security experts said that wallets should be purchased through the official vendor of the product to prevent supply chain attacks. The firm also said that the victim bought the fake Trezor wallet from a trusted seller on a well-known website.

Kaspersky Declined To Specify Which Vendor Was Involved.

The current problem which is described by Kaspersky is not a new situation for cryptocurrency community. In 2022 Trezor publicly addressed security incidents that involving Trezor Model T devices.

According to Trezor’s statement, the majority of the issues were present in the Trezor Model T wallet and all devices purchased from vendors in the Russian market.

Why Is Kaspersky So Successful In Data Security?

Kaspersky is successful in data security because they have a strong track record of providing reliable and effective protection against cyber threats. They have developed advanced technologies and innovative solutions that can detect and prevent various types of malware viruses and cyberattacks.

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