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Kraken extracts Trezor One and Model T seeds by voltage glitching

TrezorHigh

Who is affected

Someone holding a Trezor One or Model T without a passphrase could recover its seed with specialised equipment in about 15 minutes. A device protected by a BIP39 passphrase is not exposed, according to both Kraken and Trezor.

What happened

On 31 January 2020 Kraken Security Labs published research showing it could extract the encrypted seed from Trezor One and Trezor Model T devices with about 15 minutes of physical access. Kraken says it disclosed the full details to Trezor on 30 October 2019.

According to Kraken, the attack uses voltage glitching to bypass the microcontroller’s read protection and dump the flash memory; the PIN protecting the encrypted seed is then brute-forced, which Kraken reports took under 2 minutes for a 4-digit PIN on a single CPU core. Its setup cost several hundred dollars, and it estimated a consumer-friendly glitching device could be mass-produced for about $75. Decrypt notes that the attack includes opening the device’s case.

Kraken attributes the flaw to the microcontroller and says fixing it would require new hardware; its CSO told The Block that Trezor “would essentially need to put out a new device”. In its response of 31 January 2020, Trezor states that the attack requires opening the case, removing the chip from the board and connecting it to specialised equipment, so an attacked device shows visible signs of tampering, and that a strong passphrase fully mitigates it.

What to do:

  • Enable a BIP39 passphrase. It is not stored on the device, so it blocks this attack (Kraken, Trezor).
  • Do not let anyone gain physical access to your device.
SecurityFault Injection

Fault injection disturbs a chip's voltage, clock or electromagnetic environment so that it skips a security check or leaks data.

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SecurityPIN Protection

PIN Protection is a security feature that requires a personal identification number (PIN) to access a cryptocurrency wallet or device, preventing unauthorized access.

Read full definition
SecurityPassphrase

A passphrase is an additional security layer for cryptocurrency wallets, acting as a 25th word in the BIP39 seed phrase, protecting access to hidden wallets.

Read full definition
BlockchainBIP39

BIP39 is a standard for generating mnemonic seed phrases that are used to create deterministic wallets and securely back up cryptocurrency private keys.

Read full definition

Sources

Independent reporting and research this entry was checked against.

  1. Kraken — Kraken identifies critical flaw in Trezor hardware wallets (31 Jan 2020)
  2. The Block — Hackers can exploit Trezor hardware wallets with only 15 minutes of physical access (31 Jan 2020)
  3. Decrypt — Kraken hacked Trezor's Bitcoin wallets in just 15 minutes

Change log

  • Checked against Trezor's own statement, now linked; details from it added.

Learn more

Guides on protecting yourself against this type of incident (Hardware attack) and the glossary terms that describe it.

Cite this entry

WalletInsights. “Kraken extracts Trezor One and Model T seeds by voltage glitching”. Hardware wallet security incident tracker. Last verified November 3, 2026. https://walletinsights.io/en/security-incidents/kraken-trezor-voltage-glitch-seed-extraction-2020/

Corrections and right of reply

Vendors, researchers and readers can send corrections or statements to security@walletinsights.io. We check them against the sources, update the entry and record the change in its log.