A major security breach hit cryptocurrency hardware wallet firm Trezor on March 19th, when its official X social media account was hacked in a suspected SIM-swap attack. The compromised account began promoting an elaborate crypto scam advertising fake token presales.
The incident first came to light when blockchain investigator ZachXBT sounded the alarm to his 528,000 followers, revealing that Trezor's account had started shilling a fraudulent "$TRZR" token presale on the Solana blockchain. Crypto security firm Scam Sniffer also rapidly flagged the activity as nefarious.
The promotional posts instructed users to send funds to an unauthorized Solana wallet address controlled by the attackers. They also shared links to "wallet drainer" contracts designed to siphon digital assets from anyone who interacted with them.
Aiming to drive more engagement, the hackers even named "Slerf" - a memecoin project on Solana's network.
While these deceptive promotions were eventually removed, the damage was already done. According to estimates, the attackers stole around $8,100.
The incident represents a major reputational blow for the security-centric firm, which has sold over 2 million hardware wallets worldwide since its 2012 founding.
Prominent crypto analyst John Holmquist slammed Trezor, stating "Good time to mention you can use a Trezor as a security key for 2FA to secure your Twitter account?" suggesting a lack of protection like two-factor authentication enabled the breach.