Trezor’s Triumph: Navigating the Ledger Controversy and Reinforcing Wallet Security

Ledger and Trezor are the most prominent hardware wallet manufacturers, leading to regular debates about which one of these wallets is the most secure. Both Ledger and Trezor have an extensive user base, but after the recent Ledger controversy, it appears that its once-loyal customers are flocking to Trezor.
In a recent press release shared with Crypto Slate, Trezor reported a 900% week-on-week growth in its sales volume.
Trezor’s marketing team has really utilized this opportunity to attract a somewhat vulnerable user base. This is definitely not a good year for Ledger, as a significant portion of users are now as thick as thieves with its major competitor.

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Trezor sales soar 900%

Illustration: Lenka T.

A Brief Overview of the Ledger Controversy

At the beginning of May 2023, Ledger, a wallet manufacturer with an extensive user base, sparked controversy after releasing news about its firmware update. Before the company published the news on Twitter, Ledger users lived under the impression that Ledger doesn’t, and will never have access to users’ recovery seeds, a critical layer of security surrounding their crypto assets. And although the first part is true, the introduction of a new feature that would technically allow them access to seed phrases is about to change everything.

Ledger was a reputable service provider, primarily because it based its business on offering cold storage solutions and reassuring its users that they had ultimate control over their funds. Imagine the betrayal after that same company introduced a feature that essentially allows users to recover their funds without a seed phrase, as they would be the ones to keep it for you!

Ledger meme

Source: imgflip

Of course, Ledger users expressed extreme dissatisfaction with Ledger’s decision to meddle with security matters.  And wouldn’t you know it, Trezor, one of the Ledger’s biggest rivals, conveniently used this PR mess as an opportunity to attract the devastated Ledger users.

On the same day the tweet above was published, Trezor began offering discounts as an additional way to entice users to buy their product. Their Twitter account is filled with promotional messages, giving people more reasons to cut ties with Ledger and join the Trezor community.

Obviously, this approach to marketing was a success. In a recent press release published on May 25th, this crypto giant reported a 900% rise in sales amidst the Ledger debacle.


In Trezor, we believe that hardware wallets – cold storages that promise 100% self-custody should, at no stage, make the seed phrase accessible to anyone but the user.

Trezor CEO Matěj Žák said in a press statement published on Crypto Slate.

Trezor also highlighted to Crypto Slate that it is an open-source company. As a result, independent experts carefully scrutinize each step of the company’s operations to ensure that no remote seed phrase extraction is ever attempted.

Is Everything OK at Trezor?

While Trezor is celebrating a new surge of users, a security firm called Unciphered is claiming the ability to physically hack into the Trezor T’s hardware wallet. Just as Trezor found the right timing to promote its products, so has this security firm, raising concerns about Trezor’s security.

However, as reported by Crypto Slate, the CEO of Trezor responded to these claims by suggesting that the company had already identified the RDP downgrade attack vulnerability in a 2020 blog post. The CEO further states that for this attack to be successful, it “requires the physical theft of a device and highly sophisticated technological knowledge and advanced equipment.”

Trezor wallet illustration

Source: Trezor

Regarding the same topic, the CEO of Trezor told Crypto Slate that a strong passphrase will protect Trezor wallets, adding an additional security layer to users’ crypto and rendering an RDP downgrade useless.

Based on what we know so far, Trezor is navigating through the Ledger controversy and responding to claims made by Unciphered like a pro.

If we’ve learned anything from this debacle, it is the importance of remaining vigilant when selecting a wallet service and being willing to switch to a different provider if you feel uncomfortable. There are always alternative options available to meet your security needs.

Jelena is a content writer dedicated to learning about all things crypto. Her hobbies are playing chess, drawing, baking, and going on long walks. During winter, she usually spends her leisure time reading books.