Trezor Says Crypto Safe After Ledger Audit Finds Chip Flaw
Trezor disclosed a security flaw in a chip used in its Safe 7 device, found during a Ledger audit, but assured users their crypto remains secure and no action is needed.
Hardware wallet maker Trezor disclosed a security flaw in a chip used in its new Safe 7 device but said customers' crypto remains secure and no action is needed.
The issue affects “TROPIC01,” a security chip developed by Trezor sister company Tropic Square. The flaw was uncovered during an independent audit by Ledger's security research team, Donjon, which used specialized laboratory equipment to bypass some of the chip's protections, according to an emailed announcement Wednesday. Tropic Square later identified a related weakness that could expose additional information stored on the chip. However, Trezor said the vulnerability does not give attackers access to users' crypto holdings, private keys, or seed phrases.
For cryptocurrency traders and investors, this incident highlights the ongoing importance of hardware wallet security, even as the crypto market evolves. While the flaw is serious, Trezor's quick disclosure and assurance that funds are safe may help maintain trust in hardware wallets. Traders can monitor real-time price movements of major cryptocurrencies on NowPrice's live crypto dashboard to see how market sentiment reacts to such security news.
Looking ahead, the crypto community will watch for any further details on the vulnerability and potential firmware updates. Trezor has not indicated any immediate need for users to take action, but the incident underscores the value of independent security audits in the hardware wallet space. The broader market may also focus on how competitors like Ledger and Trezor continue to differentiate on security features.