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Crypto hardware wallet owners face fresh security risks after recent spate ofpersonal data thefts
Recent data breaches at shipping companies have compromised personal information of cryptocurrency hardware wallet owners, increasing their vulnerability to real-world attacks. Wallet manufacturers Trezor and SafePal reported these breaches, leading to physical threats against customers as criminals target high-net individuals. Despite the wallets' online security, the risk of 'wrench attacks' and phishing scams has surged.
Key points
- Data breaches at shipping partners of Trezor and SafePal exposed customers' personal and shipping information.
- These breaches highlight weaknesses in the tech ecosystem supporting the crypto industry.
- Hardware wallets themselves remain secure; however, personal info theft increases risk of physical attacks.
- Rise of 'wrench attacks' seeks to extract seed phrases from victims for cryptocurrency theft has surged by 75% in 2025.
- About $40 million was stolen through such attacks this year, with estimates by Chainalysis at $30 million.
- Phishing attacks targeting wallet owners via email and SMS are an increasing threat.
- A separate hack on Coinkite's Coldcard wallet resulted in over $130 million in cryptocurrency stolen directly from the blockchain.
Why it matters
- In 2025, the trend has shown increased vulnerability of crypto assets due to reliance on physical shipping and data management.
- The rise of criminal tactics against high-net individuals correlates with broader issues of cybersecurity across industries.
- Hardware wallet breaches reflect systemic risks in supply chain security within the crypto and tech domains.
The incidents underscore the pressing need for enhanced security measures in the cryptocurrency ecosystem to protect against both online and offline threats, as evolving tactics pose a significant danger to crypto asset holders.