Now that's old school — hackers are turning to snail mail to carry out crypto thefts
Summary
Cybercriminals are targeting Trezor and Ledger users by sending deceptive physical letters containing QR codes, leading victims to unwittingly disclose their recovery phrases and ultimately lose their cryptocurrency. This alarming trend highlights the need for heightened security awareness.
Key Insights
What is a recovery seed phrase and why is it so critical to protect?
A recovery seed phrase is a sequence of 12 to 24 words that serves as the master key to your cryptocurrency wallet[2][4]. If you lose access to your wallet due to a lost, stolen, or damaged device, this phrase allows you to recreate your wallet and regain access to all your funds[1]. The recovery phrase is so critical because anyone who obtains it gains full access to all your cryptocurrency assets[2][3]. Unlike a password that can be reset, losing your recovery phrase means losing access to your crypto permanently[2].
Why should recovery seed phrases never be stored digitally or shared online?
Recovery seed phrases should never be stored digitally because digital storage methods—including email, cloud services, password managers, screenshots, and plain text files—are vulnerable to hacking, malware, and data breaches[1][2][3][5]. Similarly, sharing your recovery phrase online or with anyone (except someone you would trust with your entire cryptocurrency portfolio) creates an immediate risk of theft[2][3]. Legitimate wallet providers and crypto institutions will never ask you for your recovery phrase, so any online request for it is almost certainly a phishing scam[3]. The safest approach is to write your recovery phrase on paper and store it offline in a secure physical location[1][2].