Trezor, BitBox warn users about fake hardware wallet security alerts

Security firm Coinspect reports that a wallet vulnerability dating back to 2018 resulted in the theft of $3.14 million last month, with Chinese users' assets at higher risk.

PANews reported on July 5th that security firm Coinspect Security published an article on the X platform stating that through analysis of crypto wallet seeds generated using insecure code since 2018, they discovered thousands of seeds that had been actually used. Last month alone, they found that these wallets had a total of $3.14 million stolen, most of which went unreported. Some funds were concentrated in a single address, exhibiting money laundering patterns. One affected address transferred $2 million out just hours after the alert was issued; it is unclear whether this was for theft. Coinspect warned that users who believe many of their assets remain at risk may be located in China.