One of the drivers of Trezor wallet sales growth was the controversially accepted key recovery feature introduced by rival manufacturer Ledger.
After a wave of criticism from the cryptocurrency community, Ledger management postponed the launch of the service, but such a feature seems to have scared off many potential device buyers and forced some owners to switch to Trezor.
“At Trezor, we believe that hardware wallets – 100% cold wallets for self-storage of assets – should not at any point make the passphrase available to anyone other than the user,” said Trezor CEO Matej Zak.
Zak emphasized that Trezor’s firmware is open-source, so any independent expert can audit and verify that the passphrase cannot be recovered.
As a reminder, the startup Unciphered recently announced the discovery of a vulnerability in the Trezor Model T wallet that allows the device to be hacked and obtain a private key.
However, Trezor representatives responded that the vulnerability has been known since 2020.
To use it, you need to steal the device, have a deep technical knowledge and special equipment.
In addition, setting a complex passphrase on your wallet will help protect yourself against this vulnerability.