Wednesday, October 21, 2020

Trezor claims new “phishing proof” desktop wallet

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Crypto wallet provider Trezor has launched a new desktop app called Trezor Suite for its hardware wallet.

According to an Oct. 14 blog post, Trezor’s parent company Satoshi Labs claimed its desktop app  provides “more robust protection” than its browser-based wallet, and said they have eliminated the risk of phishing attacks that often target crypto users.

“People have the right to privacy and security online but few know how to achieve it,” stated the Trezor blog. “Using Trezor Suite should help everyone take full advantage of Bitcoin more easily and open the door to a more privacy-aware, crypto-competent, and self-sovereign society.”

Hardware wallets — despite being commonly used as a cold storage method — aren’t exempt from data breaches. In January, Kraken Security Labs showed that hackers could extract private keys from a Trezor hardware wallet with just 15 minutes of physical access to the device.

There has been fierce competition among major cryptocurrency wallet providers, with data security often at the forefront of the discussion. Cointelegraph reported in September that hackers had been targeting users on Electrum — a Bitcoin hot wallet — in phishing scams resulting in the loss of millions of dollars. Ledger, another hardware wallet provider, confirmed a data breach in June that compromised more than one million user email addresses.

Trezor noted that its desktop app would be in public beta until January, at which time its old browser-based Trezor Wallet would be deprecated.

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