Portland Hacker Gets Access to Trezor Wallet, Recovers $2M Theta -Breaking
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Portland Hacker Gains Entry to Trezor Wallet and Recovers $2M theta- Hackers have recovered $2 million from Trezor’s wallet.
- Joe Grand used the fault injection attack technique to get at RAM
- Trezor stated in a tweet, that this technique was not feasible to use in order to obtain funds for newer devices.
Trezor One’s hardware wallet, which contained more than $2 million in lost funds, was accessed by Joe Grand who is also a hardware hacker. Joe Grand, the Portland hacker whose online alias is “Kingpin”, explained in a YouTube video the steps he used to access the lost funds.
The fund was lost by Dan Reich, a New York City investor. He and his friend discovered they couldn’t remember their access pin for the wallet that contained Theta. Theta is worth $50,000. They stopped accessing wallet at 16 to make sure that funds were not lost after they have completed the maximum amount of trial.
Due to the strong bullish sentiment in most crypto, the value of tokens has risen to $2 million. They had to take the hard decision to connect with Joe since that’s the only option left once the seed phrase or pin is lost. After 3 months of trials and errors, Joe finally was able access the funds.
Joe had high hopes of accessing the funds, as he realized that even a failed hack wouldn’t erase any information stored in random access memories (RAM). The firmware update moved the pin and seed phrase to RAM and then back to flash once it had been successfully installed. Reich version copy it to RAM rather than moving.
Joe said that he was able access the PIN to gain entry to the funds using the fault injection attack. This alters the security of microchips used to read RAM.
To defeat security, we basically cause misbehavior to the silicon chip within the device. It turned out that, as I was looking at the computer screen, it was clear that I had been able to bypass security, private information and recover seed. I also saw the pin I was trying to find appear on the screen.
Trezor tweeted that it was possible only for older hardware because the problem has been resolved in newer models.
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