Solana Scam Saga: Trezor’s Troubles & ZachXBT’s Whistleblow

A well-known blockchain investigator, ZachXBT, recently blew the whistle on a suspected hack of Trezor’s official X account. The malicious actor hijacked the account and posted deceptive messages promoting a fake presale for a token called “$TRZR” on the Solana blockchain.

In the fraudulent posts, the hacker instructed victims to send funds to a specific Solana wallet address controlled by the attacker. The messages also contained malicious links that redirected users to dangerous “wallet drainer” smart contracts designed to steal their crypto assets. Additional bogus posts referenced Slerf, another memecoin, likely to generate hype and lure more users into falling for the scam.

Though the fraudulent promotional posts were quickly removed from Trezor’s account, the damage was already done. The threat actor managed to siphon an estimated $8,100 worth of digital assets from Trezor’s wallet connected to the Zapper DeFi platform, according to ZachXBT. Scam Sniffer also flagged the breach soon after ZachXBT’s alert.

Solana Surges Amid Trezor’s Security Slip

While the losses were relatively contained, crypto researcher Jon Holmquist slammed the incident as an embarrassing “major L from a security company” like Trezor. The hardware wallet maker secures cold storage devices to protect crypto holdings and has sold over 2 million units globally.

However, this wasn’t Trezor’s first security lapse. Previous vulnerabilities included coding flaws that opened doors to hackers, like cross-site scripting bugs and missing security checks. Last year, a cybersecurity firm alarmingly claimed that it could physically compromise Trezor’s hardware wallets. In early 2023, a data breach exposed over 66,000 Trezor customers’ contact details.

Trezor’s parent company, SatoshiLabs, has not issued an official statement on the latest breach involving its hijacked social accounts. Evidence suggests an email phishing campaign may have enabled the threat actor to gain control of the company’s online presence.

Related Reading | Japan’s Massive Pension Fund Explores Bitcoin Investment

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risk

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