Electrical Engineer Hacks Trezor Crypto Wallet to Recover $2 Million after PIN Was Lost

A Trezor crypto wallet-holders nightmare. A hardware engineer was able to use the device’s security to recover $2 million worth of bitcoin by using a new code that wasn’t externally published yet, according to an interview with Forbes.

After the PIN was lost, an electrical engineer hacked his Trezor crypto wallet to recover $2 million. The hacker used a brute force attack and found the correct password with ease. Read more in detail here: million wallet .

Electrical-Engineer-Hacks-Trezor-Crypto-Wallet-to-Recover-2-MillionKarolina Grabowska is shown.

After the owner of a Trezor One crypto wallet misplaced the device’s PIN, an electrical engineer called Joe Grand was able to retrieve $2 million worth of bitcoin. In 2018, Dan Reich had set aside $50,000 for it. Theta is the kind of bitcoin utilized, and its value hit an all-time high of $15 per token in 2021. That’s when he realized the value of his investment had more than tripled, and he tried to cash out before the price collapsed and corrected itself. He had forgotten the PIN, however, and after 12 attempts, he was nearing the 16-try limit before the wallet deleted itself.

He was fortunate in that he was able to collaborate with someone who has a lot of expertise with hardware hacking. Mr. Grand has a long history in this field, including testifying before Congress as part of the infamous L0pht hacking group about a significant vulnerability that could not only bring the internet down, but also intercept and divert communications for intelligence services. With such credentials, you’d think it’d be simple to get into what is effectively a flash drive with a PIN number, right? That isn’t always the case.

“I was hired to break into a Trezor One hardware wallet and retrieve $2 million in bitcoin,” says the hacker (in the form of THETA). Knowing that there was already research for this technology available, it felt like a slam dunk I had no idea the project would develop into a roller coaster experience of failures, achievements, and heart-stopping moments over the course of three months. It reminded me that no matter how long you’ve been hacking, it’s always surprising, interesting, and informative. The stakes were greater than usual in this case: I only had one shot to do it right.”


Finally, a 2018 conference session in which developers from across the world detailed a possible attack for the Trezor One crypto wallet gave Joe and Dan optimism of completing their aim. Dan had reached out to them, but his appeal for help was turned down. With so much at stake, he wasn’t ready to lose up, and he was able to contact a financier in France who indicated they could send the drive to unknown colleagues in Switzerland, and it would entail an almost James Bond esque handing-off of the wallet.

Dan had began examining Mr. Grand’s background just as he was considering making the trip and its dubious features. He approached Mr. Grand as a fellow engineer and owner of a software firm and quickly recognized he had the correct guy.

Electrical-Engineer-Hacks-Trezor-Crypto-Wallet-to-Recover-2-MillionJoe Grand is shown.

Simply said, the exploit(s) used to acquire the wallet to surrender its contents were based on another found by a 15-year-old in the United Kingdom in 2017. That individual has previously assisted in the recovery of around $30,000, a little sum in comparison to the recent lost riches. After a firmware upgrade that permitted illegal programs to be loaded, the key was to figure out where the PIN was kept in RAM. The procedure was not without danger, since it may cause the RAM to wipe itself accidently. As a result, the two decided to check into the 2018 research. They noticed that the wallet will still temporarily store the PIN in RAM to avoid it being overwritten during the update process. The answer was to read the PIN before it was erased via a fault injection attack. The danger remained significant, since this may be a one-shot operation, and if it failed, the PIN would be permanently lost.

Fortunately for them, it worked, and Dan did compensate Joe for his efforts by paying him a part of the monies recovered. Trezor has also issued a statement stating that the attack has been corrected in a subsequent firmware version.

“Hello, we just wanted to point out that this is an old exploit that does not affect current users and that we rectified in 2017 in response to a complaint received via our responsible disclosure program. This assault requires complete physical access to the device, and no money have been touched.”

FinBold, FinBold, FinBold, FinBold, FinBold, Fin On the Precipice

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A person by the name of “cracking crypto wallet ” has been able to recover $2 million worth of cryptocurrency from a Trezor, which is a type of hardware wallet. The key point in this process was that the PIN code for the device was lost.

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