The cryptocurrency world is shaken by an unprecedented wave of physical fraud in the first months of 2026. Criminals targeting users of hardware wallet giants Ledger and Trezor go beyond digital methods, reach their victims’ home addresses and send fake letters. These attacks, which have intensified since February, aim to seize all assets of investors within minutes with professional-looking documents.
Digital Trap Coming with Physical Letters
Fraudsters leave physical letters in users’ mailboxes, imitating the corporate identity of Ledger and Trezor almost perfectly. While the documents in question contain serious warnings such as “mandatory identity verification” or “transaction approval”, users are asked to comply with short-term deadlines such as February 15, 2026. Equipped with fake signatures, holograms and official logos, these papers instill confidence in even the most experienced investors. Especially the cases in which the name of the Trezor CEO is used reveal how advanced the attack has become.
Users who follow the instructions in the letter are directed to scan a QR code. Scanning this code provides access to a fake web panel whose appearance is indistinguishable from official sites. Victims are asked to enter 12, 20 or 24 word rescue statements for security reasons. The moment the words are typed on these platforms, the attackers take full control of the wallet and transfer all cryptocurrencies to their accounts within seconds. Hardware wallet manufacturers are issuing urgent warnings that this sensitive information should never be entered anywhere other than the device.
The Heavy Cost of Data Leaks and Financial Losses
Security experts attribute how fraudsters gained access to users’ home addresses and contact information to past data breaches. The major leak Ledger experienced in 2020 and new vulnerabilities originating from third-party payment processors in early 2026 gave attackers a wide list of targets. Similarly, Trezor confirmed that the information of 66 thousand users was leaked at the beginning of 2024. These security weaknesses in the past are the main source of organized crime that penetrates into mailboxes today.
Data shared by Blockchain security firm SlowMist proves the extent of the danger in numbers. In just the first two months of 2026, the total loss across the ecosystem reached 69 million dollars. This huge amount; Smart contract vulnerabilities are growing day by day with methods such as account takeovers and sandwich attacks, as well as physical letter traps. Experts recommend that all documents arriving by mail of unknown origin be destroyed immediately and that only information received through official channels be taken into account.
