- The company said it would never add a seed-phrase extraction feature
- Ledger, which also got caught lying about the firmware of its wallets, had previously been noticed in such a way
- This is why demand for Trezor products increased
Last week sales of Trezor cold purses increased by 900%.
The reason for the surge in demand for the company’s products was the scandal surrounding the firm’s direct competitor in the form of Ledger.
“At Trezor, we believe that hardware wallets — cold storage that promises 100 percent self-service — should not provide access to the sideline for anyone but the owner himself,” the company said in a press release.
Trezor is positioning itself as a completely open-source project. Independent experts make sure that third parties do not have an opportunity to extract the seed phrase or its fragment.
The company also said they would never add such a feature themselves.
What’s going on at Ledger?
The company has been in the midst of a scandal after the presentation of the Recover feature.
It turned out that the firm’s wallet firmware has a “loophole” that, in theory, allows access to the owner’s seed phrase.</nbsp;
The manufacturer tried to justify itself by urging customers to “trust” the organization.. But later, under pressure from the community, Ledger postponed the release of the problematic update.
But either way, the reputation of the company was tarnished, and it will be possible to recover from such a blow soon.
It’s interesting that Trezor itself is not doing so well either. Earlier, Unciphered said it could hack into one of the cold wallets produced by the firm.