Trezor Alerts Users to Phishing Risk After Security Breach
Trezor, the company behind the popular cryptocurrency hardware wallet, has recently issued a critical security alert in response to a breach in its support ticketing system. This breach has potentially exposed the personal contact information of over 66,000 customers, raising concerns about possible phishing attacks.
Unauthorized Access Detected
On January 17th, 2024, Trezor identified unauthorized access to a third-party support ticketing portal, which may have compromised the contact details of up to 66,000 customers. The breach was discovered at 20:20 CET, and immediate measures were taken to prevent further unauthorized access.
Potential Exposure of Customer Information
While the security of users' digital assets remains intact, there is a possibility that customers' names and email addresses have been exposed since December 2021. Trezor has reached out to all potentially affected users to warn them about the increased risks of phishing attacks targeting their recovery seeds.
Malicious Actor Contacts Users
Although no recovery seed phrases have been disclosed, the malicious actor contacted 41 users directly via email, requesting sensitive information. Trezor's internal audit also revealed that the contact details of 8 people who created accounts on their trial discussion platform might have been compromised.
Importance of Vigilance and Best Practices
Trezor emphasizes the importance of vigilance and cybersecurity best practices in light of this incident. The company reassures its customers that their hardware wallets and funds remain secure and reminds them that Trezor Support will never ask for recovery seeds through any communication channels.
Precautions and Investigation
As a precautionary measure, Trezor advises all users to be cautious of any unusual or suspicious contact attempts and to verify the legitimacy of any communication claiming to be from Trezor Support. The investigation into the full scope of the data breach is ongoing, and Trezor is working closely with the third-party service provider to resolve the issue.
Affected users are encouraged to reach out to Trezor's support team for any concerns or to report suspicious activity.
Share Your Thoughts
What are your thoughts on this security breach? Do you consider it to be major or minor? Share your opinions in the comments section below.
Frequently Asked Questions
How much do gold IRA fees cost?
An individual retirement account’s average annual fee (IRA) costs $1,000. There are many types to choose from, such as Roth, SEP, SIMPLE, traditional and Roth IRAs. Each type comes with its own set rules and requirements. If the earnings are not tax-deferred you could be subject to taxes. Consider how long you will keep the money. If you are planning to hold onto your money for a longer time, you will likely save more money opening a Traditional IRA than a Roth IRA.
You can contribute up to $5500 per year to a traditional IRA (or $6500 if you are 50 or older). The Roth IRA allows unlimited contributions each year. The difference between the two is simple. A traditional IRA can be withdrawn after retirement without any taxes. On the other hand, you’ll owe taxes on any withdrawals made from a Roth IRA.
What precious metals can you invest in for retirement?
The first step to retirement planning is understanding what you have saved now and where you are saving money. Take a look at everything you own to determine how much you have left. This includes stocks, bonds and mutual funds, as well as certificates of deposit (CDs), life policies, annuities and 401(k), plans, real estate investments and other assets, such precious metals. Take all of these items and add them together to find how much you have left for investment.
If you are less than 59 1/2 years of age, you may be interested in opening a Roth IRA. While a Roth IRA does not allow you to deduct contributions from taxable income, a traditional IRA allows for that. But, future earnings won’t allow you to take tax deductions.
You may need additional money if you decide you want more. Begin with a regular brokerage.
What is the best precious metal to invest in?
An investment in gold can yield high returns on its capital. It protects against inflation as well as other risks. People become more concerned about inflation and the gold price tends to go up.
It’s a good idea to purchase gold futures. These contracts will guarantee that you will receive a specific amount of gold at an agreed price.
However, futures on gold aren’t for everyone. Some people prefer to own physical gold instead.
They can also trade their gold easily with others. They can also sell it whenever they want.
Some people also prefer to avoid paying taxes on their gold. They buy gold directly from government to do this.
You will need to visit several post offices to complete this process. First, convert any gold you have into coins or bars.
Finally, you’ll need to get a stamp to put on the bars or coins. Finally, send the coins or bars to the US Mint. There they will melt the coins or bars into new ones.
These new coins, bars, and bars have the original stamps stamped onto them. This means they can be used as legal tender.
If you buy gold from the US Mint directly, you won’t have to pay tax.
What precious metal would your investment preference be?
Are gold IRAs a good idea?
You can invest in gold by purchasing shares in companies that mine it. These companies are a great way to make money investing in precious metals like gold.
Two drawbacks exist when you own shares directly.
Holding on to your stock for too many years can lead you to losing money. Stocks will fall faster than the underlying asset (like a gold mine) when they drop. This means that you might end up losing more money than you make.
Second, you could miss out on potential profit if you wait for the market to recover before you sell. Therefore, you might need patience and wait for the market recovery before making any profit from your gold investments.
If you prefer to keep your investments apart from your finances, physical gold is still an option. A gold IRA can help you diversify your portfolio, and protect against inflation.
Visit our website to learn more about gold investment.
Are gold- and silver-IRAs a good idea.
This could be a good option for anyone looking to quickly invest in both silver or gold. There are other options as well. Please feel free to reach out to us with any questions. We’re always happy to help!
What type of IRA are you using to buy precious metals stocks?
Most financial institutions and employers offer an Individual Retirement Account (IRA). This is an investment vehicle that most people can use. A IRA is a way to make money and allow it to grow tax-deferred, until you withdraw it.
You can save taxes by setting up an IRA and then paying them off when you retire. This means that you can deposit more money into your retirement plan than have to pay taxes on it tomorrow.
An IRA has the advantage of allowing contributions and earnings to grow tax-free until you withdraw your funds. If you do withdraw the funds earlier than that, you will be subject to penalties.
After 50 you can still make contributions to your IRA. There is no penalty. If you decide to withdraw funds from your IRA while you are still working, you’ll owe income-taxes and a 10% penalty.
A 5% IRS penalty is applicable to withdrawals made before the age of 59 1/2. For withdrawals made between the age of 59 1/2 & 70 1/2, a 3.4% IRS penalty will apply.
The IRS will penalize withdrawals of more than $10,000 annually.
What are some of the advantages and disadvantages to a gold IRA
For those who don’t have the ability to access traditional banking services but want to diversify their portfolios, a gold IRA can be a great investment option. It allows you invest in precious metals like platinum, silver, and gold without any taxes, until they’re withdrawn.
The downside is that withdrawing money early will pay ordinary income tax on the earnings. The funds are not located in the country and can be easily seized by creditors if your loan defaults.
If you are looking to own gold without worrying about taxes, a golden IRA could be for you.
Statistics
- The IRS also allows American Eagle coins, even though they do not meet gold’s 99.5% purity standard. (forbes.com)
- Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
External Links
wsj.com
en.wikipedia.org
takemetothesite.com
kitco.com
How To
How to Buy Gold To Your Gold IRA
A term that describes precious metals is gold, silver and palladium. It can be any element naturally occurring between atomic numbers 7 and 110 (excluding the helium). This is valuable due to its beauty and rarity. Silver and gold are the most well-known precious metals. Precious metals can be used to make money, jewelry, industrial products, and art objects.
The price of gold fluctuates daily due to supply and demand. There has been a significant demand for precious metals over the past decade as investors look for safe havens in unstable economies. This has resulted in a substantial rise in the prices. However, some are hesitant to invest in precious metals because of the rising costs of production.
Because it is rare and long-lasting, gold makes a great investment. Like many investments, gold doesn’t lose value. You can also buy and sell gold, without having to pay taxes. There are two ways you can invest in gold. There are two ways to invest in gold: buy gold bars and coins; or, you can invest directly in gold futures.
The physical gold bars and coins provide immediate liquidity. They are easy and convenient to trade or store. They aren’t very effective in protecting against inflation. You can protect yourself against rising prices by purchasing gold bullion. Bullion can be defined as physical gold. It comes in different sizes. While some billions are sold in one-ounce portions, others come in larger pieces such as kilobars. Bullion is often stored in vaults, which are safe from fire and theft.
You might prefer to own shares of gold than actual gold. If so, then you should look into buying futures gold. Futures allow you to speculate on how the price of gold might change. You can expose yourself to the price of gold by buying gold futures without having to own the physical commodity.
For example, if I wanted to speculate on whether the price of gold would go up or down, I could purchase a gold contract. When the contract expires, my position will either be “long” or “short.” A long contract is one in which I believe that the price of gold will rise. I’m willing now to pay someone else money, but I promise I’ll get more money at the end. On the other hand, a short contract means that I think the price of gold will drop. So, I’m willing to take the money now in exchange for the promise that I’ll make less money later.
I’ll be paid the amount of gold and interest specified in the contract when it expires. That way, I’ve gained exposure to the price of the gold without actually having to hold the gold myself.
Precious metals are great investments because they’re extremely hard to counterfeit. Precious metals are more difficult to counterfeit than paper currency. It is because precious metals are hardier than paper currencies that they can be counterfeited by printing new bills.
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By: David Sencil
Title: Trezor Issues Security Alert Following Phishing Attack and Data Breach
Sourced From: news.bitcoin.com/trezor-issues-security-alert-following-phishing-attack-and-data-breach/
Published Date: Mon, 22 Jan 2024 22:00:09 +0000
