Scam letters target Trezor and Ledger users with QR code phishing
Scammers are leaning on urgency and official-sounding “checks” to trick wallet users into handing over seed phrases. When a message is built around a deadline, slow down: the recovery phrase never leaves your control.
Hardware wallet users are again reporting physical letters that impersonate Trezor or Ledger and attempt to steal recovery phrases. Cybersecurity researcher Dmitry Smilyanets said he received a letter posing as Trezor that demanded an “Authentication Check” by Feb. 15 and warned of device restrictions.
The letter used a hologram and a QR code. Smilyanets said the QR led to a lookalike setup page that prompts users to enter their seed phrase. The mailer also mixed up identities, describing Matěj Žák as the “Ledger CEO,” even though he is Trezor’s CEO. A Ledger customer reported a similar letter last year that framed the request as a required “Transaction Check.”
Entering a seed phrase on that page hands full wallet control to the operator behind it. They can restore the wallet elsewhere and transfer assets without the owner’s approval. Trezor and Ledger have repeatedly warned that no legitimate support flow will ever request a recovery phrase, regardless of the channel used.
The mail angle also ties back to old data exposures. Ledger and some partners have suffered customer-data leaks over the years, and Trezor flagged a contact-data breach in January 2024. Ledger has previously warned users about physical mail phishing on its support site. If a letter like this shows up, do not scan the QR code, do not type your seed phrase anywhere, and go to official wallet pages by entering the address yourself.
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