Hi, I have been using my Trezor for the past week to take my Bitcoin off of exchanges, and I have a pin code for security (no passphrase though).
If someone found/stole my Trezor and figured out my pin code would they be able to transfer my Bitcoin without my permission? In that situation what would happen? I am asking because I want to make sure my coins are safe but don’t want a passphrase.
Thanks guys
Hi @FreshKale101,
Yes. If someone has access to your Trezor device and know you PIN code then they can transfer funds out of your wallet. However, it’s not easy to figure out a PIN code, because every time they’d enter a wrong PIN the Trezor will pause a while before allowing them to try again. This pause will increase with the number of failed entries and doubles each time (2…4…8…16…32… seconds). After 16 attempts the device wipes itself and then only your Recovery seed can restore your wallet.