Opinion by: Igor Zemtsov, chief technology officer at TBCC
Crypto security is a ticking time bomb. Updatable firmware might just be the match that lights the fuse.
Hardware wallets have become the holy grail of self-custody, the ultimate safeguard against hackers, scammers and even government overreach. There’s an inconvenient truth, however, that most people ignore: Firmware updates aren’t just security patches.
They’re potential backdoors, waiting for someone — whether a hacker, a rogue developer or a shady third party — to kick them wide open.
Every time a hardware wallet manufacturer pushes an update, users are forced to make a choice. Hit that update button and hope for the best, or refuse to update and risk using outdated software with unknown vulnerabilities. Either way, it’s a gamble.
In crypto, a bad gamble can mean waking up to an empty wallet.
Firmware updates aren’t always your friend
Updating firmware sounds like common sense. More security! Fewer bugs! Better