Beware Fake Trezor Wallets Flooding the Crypto Market

The cryptocurrency space continues to attract illegal activities. The market suffers from increased hacking, fraud, and cryptojacking. Recently, criminals discovered a new way to defraud people of their money. According to reports, unknown persons decided to imitate crytocurrency wallets like Trezor and sell them to the public.

Trezor warns customers of the fake lookalike

Trezor, a cryptocurrency wallet recently urged the public about imitation Trezor One devices that are already in circulation. According to the announcement, the company claims that unknown persons are producing and distributing the fake wallets. The company acknowledged that the fake wallets a very similar to the original products.

Additionally, the company added that over the years, many imitations enter to the market. However, the manufacturers of such products are legitimate companies that market the products under different names. The company states they have not experienced any problem with the previous imitation. It seems as if the fake wallets seek to trick customers into buying the wrong products. The fake Trezor One wallet is a replica of the original wallet to the last detail. In a press release, the company stated:

“In the last couple of weeks, we have revealed something more startling. An exact copy of Trezor One. In other words, a fake Trezor device manufactured and distributed by an unknown vendor,”

How to differentiate between the two

Despite the replica looking so similar to the original product, there a few distinct features that will help customers to distinguish between the two. The original product supports over 500 cryptocurrencies. It also has several security features. Trezor One recently installed updates that allow users to buy coins directly from their devices.

The fake product is available at low prices. The company stressed that they did not change their prices and products are available at reasonable prices. They added that if a customer acquires the wallet at a much lower price, there is a high chance the product is a counterfeit.

Additionally, in the press release, the company also asked customers to be cautious of the Hologram and packaging. They explained that the packaging and hologram of the fake product exhibit small differences that are not easily discernible. Customers should visit the company’s website before making any purchases.

Therefore, to avoid buying a fake Trezor One, customers should get their products from trusted distributors. These include the official Trezor shop, the official Amazon shop, and other re-sellers listed on the company website.


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The post Beware Fake Trezor Wallets Flooding the Crypto Market by Ian Cooper appeared first on BittPress – Cryptocurrency News, Bitcoin & Ethereum Blockchain News.