ShipMonk, Trezor’s fulfillment partner, suffered unauthorized access to its systems, affecting nearly 14,000 customers’ data, the cold storage crypto wallet firm reported Thursday.

Trezor said the names, email addresses, phone numbers and shipping addresses of 11,742 customers had been compromised. It also said the names, cities and email addresses of another 1,947 customers were also breached, bringing the estimated number of victims to nearly 14,000 across the U.S., the UK, Sweden, Colombia, Brazil, Italy and Portugal.

“We have some difficult news to share,” Trezor said Thursday on X. “Unfortunately, one of our shipping providers has experienced a data breach that exposed sensitive order data.”

The Trezor-related security hack comes as global data breaches are at an all-time high, according to SentinelOne, a U.S. cybersecurity firm. It said that this year, data breaches have increased by 17% compared with 2025, with an average of 2,090 attacks worldwide each week. It is also estimated that global data breaches have been rising by 3% month over month since January.

The resignation of BitMart Chief Product Officer Terence Lee has stoked speculation online that the soon-to-be-shuttered crypto exchange could well be insolvent.

In a statement, posted online, Lee claims that he wasn’t “responsible for the exchange’s core business,” and that he’s not involved in BitMart’s “operations, management, or asset-related matters of the company or any of its affiliated entities.”

He also stressed that he has “no authority over platform assets, accounts, or matters relating to user funds” and said that he wouldn’t comment on any legal proceedings, calling his resignation “my sole public clarification on this matter.”

Crypto streamer Travladd said that Lee’s departure “screams insolvency,” and claimed that he’s resigning “before shit hits the fan.”

BitMart situation has ‘gotten out of hand’

According to “Cao,” a lawyer who’s previously served BitMart demand papers, the “situation has gotten out of hand.” 

They said that “Not being in control of assets doesn’t exempt a co-founder from responsibility; you don’t get to opt out of accountability by stepping back once things collapse.”

I don’t usually air personal work here, but the @BitMartExchange situation has gotten out of hand, and my clients are victims of a chaotic and poorly managed cessation of operations.

We’ve served formal demand letters across multiple jurisdictions and tried to reach the… https://t.co/f1szeKO97Z

— Cao (@CaoLinSan) August 12, 2026

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Read more: BitMart founder denies exit scam as withdrawals stall

BitMart’s withdrawal issues

Prior to Lee’s departure, Open Gradient CEO Matthew Wang had already accused BitMart of insolvency after his market maker couldn’t retrieve its funds. 

He also claimed that it was “insane” that BitMart asked token holders to lock up their tokens one week before it announced that BitMart would cease operations by January 31, 2027.

Wang’s post was apparently deleted while BitMart’s closure announcement on X was “withheld” from UK users “in response to a legal demand.”

Read more: BitMart processed just 63 withdrawals after closure announcement

The announcement promised an “orderly wind-down” and claimed, “withdrawal services will remain available.”

BitMart users scrambled to withdraw their funds as the price of its token fell 80% between July 24 and July 26.

However, there were significant delays, with users experiencing difficulties weeks later. 

Co-founder denies rugpull

Eventually, BitMart co-founder Sheldon Xia broke a two-week silence to deny that the firm was conducting an exit scam. 

In a statement that included no figures or timeline, Xia said the team is still tallying and consolidating what it holds.

He also floated the possibilty of “involving the courts and independent third-party auditors to provide a transparent report.”

Protos has reached out to BitMart for comment and will update this piece should we hear anything back.

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The City of Baltimore and its mayor, Brendan Scott, filed lawsuits against Kalshi and Polymarket over allegations that the companies violated local gambling laws.

In a Thursday notice, the Baltimore mayor’s office said that the two prediction market companies operated “illegal, unlicensed sports-betting platforms” and misled users about the ”legality and regulatory status of their products.” The lawsuits are centered on claims disputing Kalshi’s and Polymarket’s characterization of event contracts, arguing that the trades amount to unlawful wagers under state laws.

“These companies are running sportsbooks without licenses and betting that a new label will put them above the law,” said Scott. “It won’t. Baltimore will not let multibillion-dollar companies put profits over people and harm our communities through illegal gambling.”

Notably, the city’s complaint against Kalshi included Robinhood, Webull and Coinbase as partners with the prediction market platform. All companies were accused of deceptive practices by marketing sports contracts as something that can ”lawfully be purchased and traded in Maryland.”

The legal action against prediction market companies was the latest conflict between US state and federal authorities, and many experts expect it to end with an appeal to the Supreme Court. The US Commodity Futures Trading Commission (CFTC), under Chair Michael Selig, and companies have argued that event contracts on prediction markets amount to “swaps” within its purview, while both Baltimore lawsuits and other state-level authorities dispute that claim.

“City-specific action runs counter to the CFTC’s established framework for regulating prediction markets,“ a Polymarket spokesperson told Cointelegraph in response to the lawsuit. “As courts have recognized, prediction markets on CFTC-registered exchanges are governed by federal law, not a patchwork of state and local rules.”

Related: Judge stays CFTC’s case against US soldier over prediction market bets

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Hardware wallet vendor Trezor has disclosed that personal data tied to roughly 14,000 customers may have been exposed through a shipping-related incident involving its logistics provider, ShipMonk. While Trezor emphasized that its own systems were not breached and that customer devices remain secure, the company warned that the information could be used to carry out targeted phishing attempts.

In a blog post released this week, Trezor said customers who received products shipped from the US, UK, Sweden, Colombia, Brazil, Italy, and Portugal during a specific window—May 10 through Aug. 8—may have been affected. The company’s review found that 11,742 customers could have had their name, physical address, phone number, and email address compromised, and that an additional 1,947 users may have had their name, city, and email address exposed.

Key takeaways

• Trezor says the incident did not involve compromising its own systems; customer Trezor devices are not at risk.
• About 14,000 customers could face phishing attempts because shipping data may have been leaked.
• The affected shipments span multiple countries and cover deliveries made between May 10 and Aug. 8.
• Trezor warned scammers may impersonate banks, crypto exchanges, or Trezor itself using stolen contact details.
• The disclosure follows a prior Trezor advisory in January 2024 involving potential phishing targeting customers after contacting support.

What Trezor says was exposed—and who is affected

According to Trezor’s announcement, the risk comes from personal information associated with customers’ orders rather than from any compromise of the underlying wallet or its security infrastructure. The company said customers who received Trezor products in the affected shipping region and date range could be targeted with scams designed to look more legitimate by using specific personal details.

Trezor broke the potential exposure into two groups. The larger group of 11,742 customers may have had a fuller set of identifiers—name, home address, phone number, and email—while 1,947 users may have had fewer data points exposed, including their name, city, and email address. Even when the dataset is smaller, attackers can still use it to craft more convincing social engineering messages, especially if the scam references a recent purchase or delivery.

Phishing risk: why shipping data matters to crypto users

Trezor’s core message is that its hardware remains secure, but that affected customers might be targeted by “more sophisticated phishing attempts” because scammers can use leaked details to improve the credibility of their outreach. In practical terms, the company said criminals could send fake emails, make fraudulent phone calls, or send counterfeit letters—potentially even impersonating banks, crypto exchanges, or Trezor.

That warning aligns with how many crypto-related theft attempts operate: attackers rarely need to break wallet security directly if they can trick users into revealing sensitive information, approving fraudulent transactions, or moving funds under false pretenses. Personalized contact information—like a real address, phone number, or email—can help scammers bypass basic suspicion and increase the odds that a victim engages with the scam.

For investors and active traders, the most immediate concern is not whether the wallet device is compromised, but whether the user’s operational security is. A well-timed phishing campaign can target anyone who has recently installed wallet software, registered an account, or is actively managing assets—exactly the moment when a misleading message could be most convincing.

A pattern of data-driven targeting for crypto holders

Trezor described the shipping-provider incident as part of a broader set of scams that appear to leverage personal data to reach crypto holders. Earlier reporting around Trezor’s own disclosures shows the company has already warned customers about phishing risk tied to customer support interactions.

In January 2024, Trezor reported that about 66,000 users were at risk of phishing attacks if they contacted the company’s support team after December 2021. Earlier coverage from Cointelegraph noted that those users could potentially be targeted because their engagement with support could make them easier to identify for scammers. The new disclosure suggests that, even when devices remain secure, the wider ecosystem—order handling, shipping logistics, and customer contact channels—can become a pathway for criminals to collect enough data to stage convincing impersonation attempts.

Cointelegraph has previously reported that scammers have used additional tactics beyond digital messages, including physical letters sent through mail to manipulate wallet users. Other approaches include text messages and emails or calls where attackers claim to be family members in urgent need, or impersonate authorities to demand repayment for a fake debt. The common thread across these tactics is social engineering—an area where leaked personal data can materially raise the quality and believability of the scam.

What to watch next for affected customers

Trezor’s disclosure does not indicate that the incident enabled direct theft from wallets, and the company states its internal systems were not compromised. However, the company’s framing makes the next steps less about checking the device and more about monitoring for suspicious communications that reference the customer’s recent Trezor shipment or personal details.

Customers in the delivery window and listed countries should be alert for unexpected emails, phone calls, or letters that ask for sensitive wallet-related actions or encourage them to verify account details through links or instructions provided by the caller. With crypto scams frequently evolving in response to user awareness, the practical question now is whether the leaked shipping data begins circulating in the wild and whether follow-on attempts appear in the weeks after this disclosure.

For the broader market, the incident is another reminder that hardware wallet security is only one part of the threat landscape: criminals increasingly rely on data from the customer journey—shipping, support interactions, and contact databases—to make phishing harder to spot. Readers should watch for emerging scam reports tied to delivery-confirmation themes and remain cautious about any outreach that attempts to force immediate actions.

Tether completed the first full independent audit of its annual financial statements, with KPMG US issuing a clean opinion on the stablecoin issuer’s 2025 accounts.

The audit covered Tether’s balance sheet, income statement and cash flows for the year ended Dec. 31, 2025, including the assets backing its issued tokens and the liabilities they represent. Tether said the audited statements showed reserves exceeding liabilities by $6.814 billion.

Unlike Tether’s quarterly reserve attestations, which it has published for years, the full audit subjected the company’s broader financial statements and underlying evidence to independent examination, including transactions, systems, ownership records, valuations and counterparties.

Source: Paolo Ardoino

As part of the audit, KPMG physically inspected and counted Tether’s gold holdings, verifying each bar rather than relying solely on custodian records.

Tether said KPMG issued an unqualified opinion on the statements, finding they fairly presented the company’s financial position, results and cash flows in all material respects under US accounting standards.

Related: Tether signs tokenization deal with Nairobi Securities Exchange

Tether’s growing financial footprint

Tether launched its USDt (USDT) stablecoin in 2014 and has since grown into one of the crypto industry’s largest companies, generating more than $10 billion in net profit in 2025. In the second quarter of this year, the company reported $1.5 billion in net operating profit, driven largely by income from its US Treasury holdings and repurchase agreements.

USDT remains the company’s core business and dominates the stablecoin market. Its roughly $183 billion market capitalization accounts for about 61% of the $301 billion market, more than twice the roughly $72 billion held by its nearest rival, Circle’s USDC (USDC), according to DefiLlama.

Stablecoin market cap. Source: DefiLlama

Tether has used its profits to expand beyond stablecoins, investing $20 million each in Argentine neobank Ualá and Brazilian crypto platform Mercado Bitcoin this year, while leading a $50 million funding round for AI sleep technology company Eight Sleep.

The company has expanded its tokenized gold business as well, with physical reserves backing Tether Gold (XAUt) rising 9.5% in the second quarter. At the time of writing, XAUt is the largest tokenized commodity product, with around $2.7 billion in value, according to data from RWA.xyz.

Despite the company’s growth, Tether CEO Paolo Ardoino has shown little interest in taking it public. In June 2025, amid speculation over a potential Tether IPO, Ardoino wrote on X: “No need to go public.”

Source: Paolo Ardoino

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