CZ Says Software Wallets Avoid Risks Seen in Trezor Leak

Security expert Nick Neuman warned that leaked home addresses could enable criminals to more easily target people for wrench attacks. On August 13, Trezor disclosed that a data breach at its shipping partner, ShipMonk, exposed the personal information of roughly 13,700 recent customers, including names, phone numbers, and home addresses. Binance founder Changpeng Zhao (CZ) responded by arguing that the incident shows a real advantage of software self-custody wallets, since they don’t require shipping a physical device that ties a buyer’s identity to a home address. Trezor Breach Puts Physical Addresses in Focus Trezor disclosed the incident after ShipMonk, a logistics provider, notified the company on Monday, August 10, about unauthorized access to systems holding customer order data. CZ reacted on Thursday, contending that the incident highlights a different risk profile for hardware and software self-custody. “Hardware wallets are often considered ‘more secure’ than software wallets,” he wrote. “While I still think that is ‘generally true’ in a few specific aspects, this incident reinforces an advantage of software self-custody wallets.” He pointed to examples such as Binance Web...