Avoid having your Trezor wallet stolen via emails claiming it was compromised

Also Known As: Trezor phishing email
Damage level: Medium

What is the "Trezor" email scam?

"Trezor email scam" refers to emails regarding a data breach of Trezor's administrative servers. It must be emphasized that these letters are fake, and they are not associated with Trezor - the legitimate hardware cryptocurrency wallet.

After analyzing an email belonging to this spam campaign, we have concluded that it operates as a relatively sophisticated phishing scam. It aims to trick recipients into installing a fake "Trezor Suite" application designed to record the log-in credentials entered into it.

Trezor email spam campaign

"Trezor" email scam overview

The text presented in the spam email states that "Trezor has experienced a security incident". This data breach allegedly resulted in over a hundred thousand of their users' wallets being exposed, including the email's recipient's cryptowallet.

The letter claims that the scope of the attack is as of yet unknown, but it is presumed that the exposed wallets are at risk. Hence, the email urges the recipient to install the newest version of "Trezor" and create a new PIN for their wallet.

These emails were targeted and sent to users of the Trezor wallet. Trezor has confirmed that the email list was obtained via a compromised opt-in newsletter hosted at MailChimp.

Additionally, the webpage these spam emails lead users to - closely mimics the design of the official Trezor website's download page.

Furthermore, while Trezor's actual domain is trezor.io, the fake site displays the suite.trezor[.]com address which bears a relatively legitimate appearance. However, the page's URL is actually suite.xn--trzor-o51b[.]com - although it is presented as suite.trezor[.]com; this URL spoofing is referred to as an IDN homograph attack by which computers are deceived through the use of different yet identical-looking characters.

According to a report by BleepingComputer, other domains were also used in this phishing campaign. The fraudulent website offers the download of a fake "Trezor" app.

In our experience, disguising digital certificates is not especially common for cyber criminals, and this installer is not an exception. Having downloaded the installation setup, we discovered that it does not spoof Trezor's genuine certificate, which is "Satoshi Labs, s.r.o".

The installed application appeared identical to Trezor, down to the banner warning users of potential phishing attacks. After users enter their wallet's 12-to-24 word recovery phrase - this information is sent to the criminals, and it is sufficient for them to gain access/control over the wallet and the cryptocurrency stored therein.

Therefore, by trusting these "Trezor" scam emails, users can experience significant financial losses.

Threat Summary:
Name Trezor phishing email
Threat Type Phishing, Scam, Social Engineering, Fraud
Fake Claim Trezor servers have been compromised and users' wallets may be at risk.
Disguise Email is disguised as an alert from Trezor.
Related Domains suite.xn--trzor-o51b[.]com
Detection Names (suite.xn--trzor-o51b[.]com) Combo Cleaner (Malware), CRDF (Malicious), ESTsecurity-Threat Inside (Malicious), Fortinet (Phishing), Google Safebrowsing (Malware), Full List Of Detections (VirusTotal)
Serving IP Address (suite.xn--trzor-o51b[.]com)
Detection Names (fake installer) AhnLab-V3 (Unwanted/Win.FakeTool.C5051177), ALYac (Trojan.MSIL.FakeTool), ESET-NOD32 (JS/PSW.Agent.P), Webroot (W32.Trojan.Gen), Full List Of Detections (VirusTotal)
Symptoms Unauthorized online purchases, changed online account passwords, identity theft, illegal access of the computer.
Distribution methods Deceptive emails, rogue online pop-up ads, search engine poisoning techniques, misspelled domains.
Damage Loss of sensitive private information, monetary loss, identity theft.
Malware Removal (Windows)

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Phishing spam email examples

We have analyzed thousands of spam emails; "DHL - YOUR GOODS ARE IN TRANSIT", "PancakeSwap email scam", and "We are closing all mailbox users" are just a couple of recently-found ones used for phishing. In addition to various scams, these letters are also employed to proliferate trojans, ransomware, and other malware.

How do spam campaigns infect computers?

Spam emails can contain infectious files as attachments or download links. These files can be in various formats, e.g., archives (RAR, ZIP, etc.), executables (.exe, .run, etc.), Microsoft Office and PDF documents, JavaScript, and so forth. Malware download/installation is triggered - when such a file is opened.

For example, MS Office documents cause infections by executing malicious macro commands. This process is jumpstarted immediately when a file is opened in Microsoft Office versions released before 2010. Later versions have "Protected View" mode - hence, macros (i.e., editing/content) can only be enabled manually.

How to avoid installation of malware?

We strongly advise exercising caution with incoming mail. The attachments and links present in suspicious emails and messages must not be opened, as that may result in a system infection. Additionally, we recommend using Microsoft Office versions released after 2010.

Aside from spam mail, malware is also spread using dubious download channels (e.g., unofficial and freeware sites, P2P sharing networks, etc.), illegal activation tools ("cracks"), and fake updates. Therefore, it is just as important to download from official/verified sources and activate/update software with tools provided by legitimate developers.

It is paramount to have a dependable anti-virus installed and kept up-to-date. Security programs have to be used to run regular system scans and to remove detected threats. If you've already opened malicious attachments, we recommend running a scan with Combo Cleaner Antivirus for Windows to automatically eliminate infiltrated malware.

Text presented in the "Trezor" scam email letter:


Dear customer
We regret to inform you that Trezor has experienced a security incident involving data belonging to 106,856 of our customers, and that the wallet associated with your e-mail address ***@********* is within those affected by the breach.
Namely, on Saturday, April 2nd, 2022, our security team discovered that one of the Trezor Suite administrative servers had been accessed by an unauthorized malicious actor.
At this moment, it's technically impossible to accurately assess the scope of the breach. Due to these circumstances, if you've recently accessed your wallet using Trezor Suite, we must assume that your cryptocurrency assets are at risk of being stolen.
In the spirit of transparency, we wanted to make our customers aware of this incident before malicious actors could utilize this information to their detriment. We felt time was of the essence, and we are expediently working through our investigation.
If you're receiving this e-mail, it's because you've been affected by the breach. In order to protect your assets, please download the latest version of Trezor Suite and follow the instructions to set up a new PIN for your wallet.


Screenshot of the fake Trezor website promoted through this spam campaign (spoofed URL):

Fake website promoted by the Trezor spam campaign

Screenshot of the fake Trezor installation setup downloaded from this website:

Fake installer promoted by the Trezor spam campaign

Screenshot of the fake Trezor application:

Appearance of the fake Trezor application

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Quick menu:

Types of malicious emails:

Phishing email icon Phishing Emails

Most commonly, cybercriminals use deceptive emails to trick Internet users into giving away their sensitive private information, for example, login information for various online services, email accounts, or online banking information.

Such attacks are called phishing. In a phishing attack, cybercriminals usually send an email message with some popular service logo (for example, Microsoft, DHL, Amazon, Netflix), create urgency (wrong shipping address, expired password, etc.), and place a link which they hope their potential victims will click on.

After clicking the link presented in such email message, victims are redirected to a fake website that looks identical or extremely similar to the original one. Victims are then asked to enter their password, credit card details, or some other information that gets stolen by cybercriminals.

Email-virus icon Emails with Malicious Attachments

Another popular attack vector is email spam with malicious attachments that infect users' computers with malware. Malicious attachments usually carry trojans that are capable of stealing passwords, banking information, and other sensitive information.

In such attacks, cybercriminals' main goal is to trick their potential victims into opening an infected email attachment. To achieve this goal, email messages usually talk about recently received invoices, faxes, or voice messages.

If a potential victim falls for the lure and opens the attachment, their computers get infected, and cybercriminals can collect a lot of sensitive information.

While it's a more complicated method to steal personal information (spam filters and antivirus programs usually detect such attempts), if successful, cybercriminals can get a much wider array of data and can collect information for a long period of time.

Sextortion email icon Sextortion Emails

This is a type of phishing. In this case, users receive an email claiming that a cybercriminal could access the webcam of the potential victim and has a video recording of one's masturbation.

To get rid of the video, victims are asked to pay a ransom (usually using Bitcoin or another cryptocurrency). Nevertheless, all of these claims are false - users who receive such emails should ignore and delete them.

How to spot a malicious email?

While cyber criminals try to make their lure emails look trustworthy, here are some things that you should look for when trying to spot a phishing email:

  • Check the sender's ("from") email address: Hover your mouse over the "from" address and check if it's legitimate. For example, if you received an email from Microsoft, be sure to check if the email address is @microsoft.com and not something suspicious like @m1crosoft.com, @microsfot.com, @account-security-noreply.com, etc.
  • Check for generic greetings: If the greeting in the email is "Dear user", "Dear @youremail.com", "Dear valued customer", this should raise suspiciousness. Most commonly, companies call you by your name. Lack of this information could signal a phishing attempt.
  • Check the links in the email: Hover your mouse over the link presented in the email, if the link that appears seems suspicious, don't click it. For example, if you received an email from Microsoft and the link in the email shows that it will go to firebasestorage.googleapis.com/v0... you shouldn't trust it. It's best not to click any links in the emails but to visit the company website that sent you the email in the first place.
  • Don't blindly trust email attachments: Most commonly, legitimate companies will ask you to log in to their website and to view any documents there; if you received an email with an attachment, it's a good idea to scan it with an antivirus application. Infected email attachments are a common attack vector used by cybercriminals.

To minimise the risk of opening phishing and malicious emails we recommend using Combo Cleaner Antivirus for Windows

Example of a spam email:

Example of an email spam

What to do if you fell for an email scam?

  • If you clicked on a link in a phishing email and entered your password - be sure to change your password as soon as possible. Usually, cybercriminals collect stolen credentials and then sell them to other groups that use them for malicious purposes. If you change your password in a timely manner, there's a chance that criminals won't have enough time to do any damage.
  • If you entered your credit card information - contact your bank as soon as possible and explain the situation. There's a good chance that you will need to cancel your compromised credit card and get a new one.
  • If you see any signs of identity theft - you should immediately contact the Federal Trade Commission. This institution will collect information about your situation and create a personal recovery plan.
  • If you opened a malicious attachment - your computer is probably infected, you should scan it with a reputable antivirus application. For this purpose, we recommend using Combo Cleaner Antivirus for Windows.
  • Help other Internet users - report phishing emails to Anti-Phishing Working Group, FBI’s Internet Crime Complaint Center, National Fraud Information Center and U.S. Department of Justice.

Frequently Asked Questions (FAQ)

Why did I receive this email?

Spam emails are not personal, and cyber criminals distribute them by the thousand hoping that at least some of the recipients will fall for the scams. According to Trezor, the fake emails masquerading as "Trezor" notifications were sent to email addresses obtained from their compromised opt-in newsletter hosted at MailChimp.

I have provided my personal information when tricked by this spam email, what should I do?

If you have provided log-in credentials - immediately change the passwords/passphrases of all potentially compromised accounts and inform their official support. And if you have disclosed other private information (e.g., ID card details, credit card numbers, etc.) - contact the relevant authorities without delay.

I have read a spam email but didn't open the attachment, is my computer infected?

No, merely reading a spam email will not trigger any malware download/installation processes. Systems are infected through the files attached to or links presented in these emails.

I have downloaded and opened a file attached to a spam email, is my computer infected?

The file promoted via the "Trezor" spam emails is not intended to infect recipients' devices with malware. Instead, it installs a fake "Trezor" app, which records log-in information provided to it - thereby allowing the cyber criminals to steal victims' Trezor wallets and obtain the cryptocurrency stored therein. In general, malware-proliferating files can be in various formats. Whether they initiate infection processes upon opening may depend on their formats. Executables download/install malicious software when opened - almost without fail. While document formats (.doc. pdf, etc.) may require additional actions (e.g., enabling macro commands) to begin infiltrating malware into systems.

Will Combo Cleaner remove malware infections present in email attachments?

Yes, Combo Cleaner can detect and eliminate nearly all of the known malware infections. However, it must be stressed that performing a full system scan is essential - since high-end malicious programs typically hide deep within systems.

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About the author:

Tomas Meskauskas

Tomas Meskauskas - expert security researcher, professional malware analyst.

I am passionate about computer security and technology. I have an experience of over 10 years working in various companies related to computer technical issue solving and Internet security. I have been working as an author and editor for pcrisk.com since 2010. Follow me on Twitter and LinkedIn to stay informed about the latest online security threats. Contact Tomas Meskauskas.

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Malware activity

Global malware activity level today:

Medium threat activity

Increased attack rate of infections detected within the last 24 hours.

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