Fake Trezor wallets on the market

January 29, 2019 | In Trezor | By

It is undoubtedly everyones favourite season. Christmas is just around the corner and for many crypto enthusiasts the time to source their new hardware wallet. However, as we all know, we all love a bargain and when it comes to securing your cryptos people also try and cut corners and this is where things can go wrong.

Several Trezor One hardware wallets as well as other hardware security devices, have been discovered floating around online on crypto-market places and online retailers. The extent of the danger has yet to be assessed, but crypto holders who have recently bought what they believe to be a Trezor One are being urged to be extra cautious as they may not only experience issues with their wallets but also endanger the safety of their “coins”.

The Dangers of Fake Hardware Wallets
Fake hardware wallets can potentially hold a major risk, the most alarming concern being the fact that the devices could be configured to send your private keys and crypto back to the creator of the device. What is more, they are cheaper mainly as they are manufactured with inferior component, also, meaning the there is a higher chance of the device failing and you losing your crypto balance as a result.

How to Spot Fakes
Usually, clones of the Trezor wallets are sold under different brand names rather than Trezor itself – even though they may look almost identical – and also have very clear limitations. However, there is a new clone being sold (as if it is Trezor made) but if you look clearly you will notice that the holographic sticker used is slightly different on the fakes – and on the QR code print out – while counterfeit device boxes will also say “Made in China.” Any of the above 2 signs, are a clear indication you have purchased a fake and should request a refund from the retailer or simply get rid of.

Trezor Alternatives
If the price tag of the Trezor One is what is your main driver to purchasing a fake, we would strongly urge you to have a look at our shop section, to see plenty of more affordable alternatives. Also keep an eye out for our regular sales, especially with Xmas just around the corner and of course our referral system for some of our products.
It’s always best to wait and get a genuine product from an authorised reseller like MHW, rather than risking your crypto portfolio on a dodgy device from China.
Whichever wallet you decide to go with, the best decision is always to avoid buying a cheap imitation, because your cryptos could be in danger (As well as your Xmas tranquillity) if you do.

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Posted by on January 29, 2019 in Trezor
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