Trezor One Hack Recovers $2M in Theta

$2 million worth of cryptocurrencies recovered from a hacked Trezor wallet.

Trezor One cracked

Three years after Dan Reich found himself unable to access his Trezor One hardware wallet, a computer engineer and hacker, Joe Grand, came to his rescue.

In 2018, New York-based entrepreneur Reich found he could no longer access his original $50,000 investment in Theta after losing the PIN for his Trezor One.

He made twelve unsuccessful attempts to guess the pin. However, after it turned out that it would lead to nothing and he was about to have the account automatically deleted, he gave up further attempts.

A few years later, he found that the investment had grown to $2 million. It became clear that a hack was the only way to get the money back.

So Reich turned to the well-known hacker Grand. After a long process that lasted 12 weeks, the hacker finally managed to recover the lost pin.

After successfully hacking the account, the Portland-based hacker uploaded a YouTube video explaining how he performed the hack.

According to the hacker, the key to this hack was that the Trezor One wallets temporarily move the PIN and key to RAM during a firmware update, only to write them back to flash memory later after the upgrade.

Grand noted that in the firmware version installed on Reich's wallet, this information was not moved but copied to RAM, meaning that if the hack fails and RAM is wiped, the information would still be in flash memory.

After a fault injection attack, a technique that changes the voltage flowing to the chip, the hacker was able to bypass the security of the microcontrollers that prevent hackers from reading the RAM and getting the PIN.

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