Hardware cryptocurrency wallet provider Trezor has warned its users that new phishing attacks are aimed at their encryption investments in an attempt to steal their private keys.

On Feb. 28, Trezor warned users on Twitter that it was an active phishing attack designed to steal investors' money by allowing investors to enter wallets on fake Trezor sites during the recovery phase.

Phishing activities include attackers pretending to be Trezor, contacting victims by phone, text message or email, claiming security vulnerabilities or suspicious activities in their Trezor accounts.

"Trezor Suite recently suffered a security breach, assuming that all your assets are vulnerable," the fake message wrote, inviting users to click on a phishing link to "protect" their Trezor devices.

"Please ignore these messages because they are not from Trezor," Trezor announced on Twitter, stressing that the company would never contact customers by phone or text message. The company added that Trezzo did not find any evidence of database leaks.

According to online reports, the last phishing attack against Trezor customers was launched on Feb. 27, when users were directed to a domain and asked to enter their recovery seeds. The domain name provides a perfectly made fake Trezor website that prompts users to start protecting their wallets by clicking the "Start" button.

After clicking the "start" button, users will be asked to provide a recovery phrase for their cryptocurrency wallets.

The recovery password, or private key, of the wallet is the most important part of self-preservation by saving your password on the unmanaged wallet. The security of the recovery phase is more important than the security of the hardware wallet. Once the private key is stolen, it means that the encrypted property no longer belongs to its original owner.

The news came shortly after The Sandbox, a virtual world company, suffered a data breach on Feb. 26, which led to a phishing email sent to users.

The recent phishing attack against Trezor customers is not the first such scam. Trezor Wallet was also targeted by phishing attacks in April 2022, when the attackers contacted Trezor users posing as the company and asked them to download a fake Trezor app.

However, such attacks are not unique to Trezzo. In 2020, rival hardware wallet company Ledger suffered a massive data breach when attackers publicly disclosed the personal information of more than 270000 Ledger customers.