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To protect against a compromised wallet, when your Trezor Model T receives a raw transaction, the details will appear on its display.
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In order for a crypto spending transaction to be broadcast to the blockchain network, it must be signed with the private key associated with the blockchain address that holds the crypto.īefore signing the transaction with your private key and returning it to your wallet application to be broadcast, your Trezor Model T will perform a series of " Don't Trust verify" checks. When you initiate a transaction from your wallet application, the raw transaction is sent to your Trezor Model T, with a request that the raw transaction be signed. The principle of " Don't Trust verify" is at the forefront of the design of the Trezor Model T. What this means is that by default your Trezor Model T does not trust Trezor Wallet or any 3rd-party wallet. To achieve this, the Trezor Model T operates on a zero-trust principle. Your Trezor Model T protects your private keys, never sharing them or exposing them to any 3rd party. The main threat model of the Trezor Model T is to protect against digital attacks from hackers and malware, which are the most common threats facing cryptocurrency users. The Trezor Model T builds in a number of security features.
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The approach is working, with hundreds of developers having contributed code to the Trezor ecosystem. Satoshi Labs welcomes and fosters this, in the spirit of driving innovation in the open-source model. The Trezor Model T has a number of security features that are unique, and due to its open-source nature, many other hardware wallets on the market use the source code from Trezor in their products. The Trezor Model T is the culmination of almost a decade of work on open-source hardware wallets. In fact, in 2012, Trezor released the very first hardware wallet for Bitcoin. Among Satoshi Labs' significant contributions are the BIP39 protocol that is the industry standard for wallet generation, and the protocols that determine the wallet derivation paths for native-SegWit and non-SegWit addresses: BIP44 and BIP84. The team at Satoshi Labs are trailblazers in the cryptocurrency space, making open-source contributions that are in use by thousands of wallets every single day. The Trezor Model T is an open-source, fully auditable hardware wallet developed by Satoshi Labs.
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No matter what new vulnerabilities are discovered in software, if your private keys are stored in an offline specialized hardware device, your keys are safe. Hardware wallet manufacturers design security features into purpose-built, customized hardware that protect your private keys by keeping them inside the device and permanently isolated from the Internet. Hardware wallets have emerged as a solution to these threats. A choreographed team of application developers, system administrators, and network engineers must constantly monitor and defend online applications against security threats. Every day reveals new unexpected vulnerabilities discovered by creative hackers.
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Vault12 addresses all of these scenarios by providing an easy-to-use back up and retrieval mechanism for passphrases, seedphrases, and shards.įor a software wallet to be secure, the application has to be built without security flaws, the operating system hosting the application has to be hardened (configured to reduce the likelihood of successful attacks), and both the application and the operating system must be kept patched to address any newly-emergent security flaws. Similarly, another option provided by Trezor is to use Shamir's Secret Sharing - but the same responsibility exists - you must back up the shards. For this reason, Trezor recommends using a BIP39 passphrase if you think that you are at risk of physical attacks however, you must still BACK UP both the passphrase and seed phrase. No matter which hardware security setup you use, hardware attacks are still possible. This is why specialized secure hardware exists - the smaller the set of tasks that a device performs, the smaller the "attack surface," and the less likely that bad actors can find a way to compromise its security. Not only is the wallet application itself susceptible to attack, but the operating system of the host computer, and even the security of the hardware that runs the operating system can be the target of attack. However, a potential threat emerges that is present in all applications: software is hard to keep secure. Most cryptocurrency wallets on the market today are software wallets running on computer systems that are connected to the Internet, and this makes sense - the blockchain itself is software, and if you want to conveniently interact with it, a few mouse clicks in a software wallet can quickly execute a transaction.
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