Trezor

Trezor is the hardware wallet business of SatoshiLabs, a Prague technology holding company. The operating entity is Trezor Company s.r.o., registered in the Czech Republic under IČO 02440032 at Kundratka 2359/17a in Prague 8. Trezor dates itself to 2013 and names its co-founders as Slush and Stick; Slush is Marek Palatinus, who ran the company until January 2023, when former chief product officer Matěj Žák became CEO and Palatinus moved to an adviser role.

Trezor sold what it calls the first hardware wallet, the Model One, in 2014. Its timeline also credits the team with the BIP39 and BIP44 standards that most wallets use for recovery phrases and account paths, and with Shamir Backup (SLIP39) in 2019. On trezor.io the company says it has more than 2 million users and more than 200 staff, and that it is fully self-funded. Those are company figures.

Trezor has no token and does not hold customer funds. Its revenue comes from devices, accessories such as Keep Metal backup plates, and partner services inside Trezor Suite.

A Trezor creates your private keys on the device and signs transactions there; the computer or phone running Trezor Suite only receives signed results. At set-up the device shows a wallet backup of 12, 20 or 24 words, or splits it into several shares with Advanced Multi-share Backup, where a chosen number of shares is needed to recover. Whoever holds the backup controls the coins, and Trezor cannot recover a lost one.

The current Safe models combine a general-purpose microcontroller with a certified EAL6+ secure element, so the device does not rely on the microcontroller alone. Trezor describes the Safe 5's chip as an NDA-free EAL6+ secure element. The Safe 7, launched in 2025, uses three chips from three vendors: TROPIC01, which Trezor calls the first auditable secure element, an Infineon OPTIGA EAL6+ secure element and an STM32U5 microcontroller. Trezor also says the Safe 7 is the first hardware wallet to use post-quantum signatures (SLH-DSA-128) for firmware updates, device authentication and boot. That protects the device's own software chain, not blockchain transactions.

Trezor Suite runs on desktop and, since 2023, on mobile. It installs firmware updates, shows balances and builds transactions for the device to sign. Trezor says its devices also work with more than 30 third-party wallets and 70,000 apps, so Suite is not the only way to use one.

Yes for the parts that matter most. Trezor publishes its firmware and Trezor Suite code on GitHub, so anyone can read the code that generates and uses keys and check it against the build on the device. The Safe 7 product page describes the code as 100% open source and its Bluetooth link as encrypted with the open Trezor Host Protocol.

The secure elements are where the line used to be. Most secure element chips ship with closed firmware under a vendor NDA, which is why Trezor stressed that the Safe 5's chip is NDA-free and why it built the Safe 7 around TROPIC01, a chip Trezor describes as auditable. For buyers, the practical difference from closed-firmware rivals such as Ledger is that the claim about where keys go can be checked by outsiders rather than taken on the vendor's word.

Trezor charges once, for the device. Trezor Suite is free and there is no subscription. Network fees for sending coins go to the blockchain.

Buying, selling and swapping inside Suite go through third-party providers that Suite compares; Trezor says it only integrates non-custodial buy providers and that most require KYC on their own sites. The comparison screen shows how much crypto each provider would deliver, but neither the Suite trading page nor the buy guide publishes a fee breakdown or says whether Trezor takes a share. Comparing the quoted amount with an exchange price before confirming is the only way to see the total cost.

Trezor's disclosed incidents have involved customer data held by suppliers, not funds taken from devices. Its device-level record includes one recent published weakness.

In March 2025 Ledger's security lab, Ledger Donjon, showed that a known voltage-glitching technique could bypass some of the Safe 3's protections against supply-chain tampering by attacking its microcontroller. Trezor said the researchers could not extract private keys or PIN codes, that funds stay protected if the device is bought through official channels, and that the Safe 5 uses a different chip. The attack needs the device in hand and specialist equipment, so it matters mainly for devices bought from unofficial sellers.

Customer data is the weaker area. In January 2024 an intruder reached a third-party support portal, and Trezor warned about 66,000 people that their names and emails may have leaked. In August 2026 shipping provider ShipMonk disclosed a breach that, after Trezor's 4 September update, covers about 80,689 customers; 11,742 of them had full names, phone numbers and shipping addresses exposed. Trezor said it had earlier received written confirmation that ShipMonk deleted older order data and that it was very disappointed to learn it had not. Then on 9 September 2026 an attacker who breached Brevo, Trezor's newsletter platform, mailed 347,149 contacts a fake security alert asking them to enter their wallet backup into an app; Trezor took the site down within 20 minutes, after about 2,500 clicks.

So a Trezor owner's main risk is being targeted as a known crypto holder. Trezor will never ask for the wallet backup, and no firmware update or security alert ever requires typing it into a website or app.

• Firmware: open source on GitHub.
• Supply chain: buy from trezor.io or a verified reseller; Trezor removed CryptoBilis from its reseller list in October 2026 as a precaution, while saying it had no reports of tampered Trezor units.
• Insurance and proof of reserves: not applicable, since Trezor never holds customer coins.

Order from trezor.io or a reseller on Trezor's verified list. On arrival, install Trezor Suite from trezor.io, connect the device and let Suite check the device's authenticity and install firmware. Then create a new wallet on the device, write down the backup it displays and confirm it on the device. A device that arrives with backup words already written down, or a seller who supplies them, means the wallet is compromised and the device should not be used.

Trezor's Keep Metal plates store the backup on steel instead of paper. Advanced Multi-share Backup lets you split it into shares kept in different places. Our first hardware wallet set-up guide walks through the same steps in more detail.

Trezor never holds your coins, so leaving is a matter of sending them elsewhere from Suite or restoring the backup in another wallet. A 12-, 20- or 24-word backup follows the BIP39 standard and can be restored into most other wallets. A multi-share (SLIP39) backup is less widely supported, so check that the destination wallet reads SLIP39 before relying on it, or move the coins by transaction instead.

If a device is lost or broken, the backup restores the wallet on a new Trezor or a compatible wallet. Without the backup, nobody, including Trezor, can recover the funds.

Trezor's support page points users to its knowledge base and to the community forum at forum.trezor.io. It lists no phone number. Searches for a 'Trezor support number' are a common route into scams, and any caller or chat agent who asks for a wallet backup is not from Trezor.

Official accounts are linked from the footer of trezor.io: X (@trezor), GitHub, YouTube, the r/TREZOR subreddit and the blog. Security notices, including the 2026 ShipMonk and Brevo incidents, are published on trezor.io/blog.

Milestones from Trezor's company page and announcements:

• 2013: Trezor founded in Prague.
• 2014: Model One released.
• 2018: Model T.
• 2019: Shamir Backup (SLIP39).
• 2021: Trezor Suite desktop app.
• January 2023: Matěj Žák succeeds Marek Palatinus as CEO.
• 2023: Trezor Safe 3 and Suite mobile app.
• 2024: Trezor Safe 5; support portal breach in January.
• March 2025: Ledger Donjon publishes the Safe 3 glitching finding.
• 2025: Trezor Safe 7.
• August and September 2026: ShipMonk data exposure and Brevo phishing incident.

Model-level comparisons live on the rating cards: the Safe 5 among hardware wallets and the Safe 3 among hardware wallets.