Seriously, Please Watch This Before AI Deepfakes Steal Your Crypto - Trezor CTO | E184
Thursday, 27 August 2026 · 2 min read · Listen to the episode ↗
In this episode, Thomas Sushanka, CTO of Trezor, warns cryptocurrency users about the rising threat of AI deepfakes and sophisticated phishing attacks that can compromise their assets. He emphasizes the importance of self-custody, noting that only 2% of crypto holders practice it, and advocates for storing 70-80% of assets in hardware wallets for enhanced security. Sushanka also discusses the potential future risks posed by quantum computing and the need for users to stay vigilant in an evolving threat landscape.
Thomas Sushanka, the CTO of Trezor, emphasizes the urgent need for cryptocurrency users to be aware of phishing attacks, which can affect even industry leaders. He acknowledges that while quantum computing poses a low immediate threat to Bitcoin, the fundamental narrative of Bitcoin remains intact despite market fluctuations. Sushanka predicts significant changes in the Bitcoin landscape over the next year, driven by the lack of backing for fiat currencies, which compels individuals to seek security in Bitcoin.
Sushanka highlights the importance of education in understanding cryptocurrency risks, noting that many users only recognize these risks after experiencing incidents. He points out that only 2% of cryptocurrency holders practice self-custody, indicating a substantial gap in security awareness. Holding Bitcoin on exchanges means the exchange retains ownership, making security, availability, and privacy critical when using hardware wallets.
Despite advancements in security, attacks are becoming more sophisticated. Sushanka suggests that investing in a hardware wallet is reasonable when the amount of crypto exceeds twice the device's cost, yet many individuals store large amounts without adequate security measures. He acknowledges valid reasons for not placing all crypto into self-custody, but recommends that ideally, 70-80% of crypto assets should be stored in self-custody.
Self-custody does not need to be an all-or-nothing approach; individuals can gradually increase their holdings in a hardware wallet. Sushanka dispels the myth that hardware wallets are only for tech-savvy users, highlighting user-friendly options like the Trezor Safe 7. He also addresses the challenges of inheritance management for crypto assets and advises against holding entire portfolios on exchanges due to associated risks.
The episode discusses the growing threat of AI technology in scams, particularly through realistic voice generation, and emphasizes the importance of caution in online communications. Sushanka notes that while perfect security is unattainable, Trezor wallets require physical theft for an attacker to gain access. He mentions that Trezor is diversifying its chip sources to enhance security and that the current generation of devices offers significant improvements.
Phishing remains a major concern in self-custody, often leading to significant losses. While quantum computing poses a potential future threat to Bitcoin, relevant quantum computers are not expected soon. The crypto community is beginning to take the quantum threat seriously, with discussions about quantum-proof solutions gaining traction, although there is considerable false marketing surrounding these products.
Sushanka clarifies that Trezor's Safe 7 can update firmware in a quantum-safe manner, but it is not quantum-proof, as Bitcoin itself is not. He warns that discussions about quantum risk may be used as scapegoats during bear markets. The episode concludes with a call for every crypto user to check their backup and security setup immediately, reinforcing the need for vigilance in an evolving threat landscape.
This summary was generated from the episode transcript and can contain mistakes.