U.S. is looking for someone to hack the hardware wallet
01.05.2021 | auglovoi
The United States authorities have placed a tender for the creation of a universal tool that would allow law enforcement agencies to bypass the existing protection of cryptocurrency hardware wallets. Thus, the Internal Revenue Service plans to improve the efficiency of financial crime investigation and to be able to confiscate funds obtained illegally.
A number of experts doubted the possibility of implementation of the U.S. authorities’ plans, at least at the current level of technological development. It is possible that for some devices it will be possible to find a way around the protection, but it is impossible to talk about mass hacking by a universal method. In addition, even after gaining access to the private key on the device, the authorities may not get any money if, for example, accomplices manage to use a mnemonic phrase to restore the wallet on another device and withdraw all the money.
At the same time, the developers of one of Trezor’s secure cryptocurrency storage devices talked about the benefits of their products and the near hundred percent protection of trusted funds. Although the company does not give an absolute guarantee, but they are sure that the development model, in which the source code is completely open and available for anyone to check, allows them to find any vulnerabilities in the shortest time.