Use Hidden or Decoy wallets on your Trezor devices

February 07, 2020

Trezor team issued a statement on how the Read Protection Downgrade Attack could completely compromise your mnemonic/seed.

TLDR:

A passphrase protects you against this attack.
A passphrase is a second factor authentication (2FA) to your device.
You can have as many hidden or decoy wallets as you want.
Different passphrases -> different wallets.
Because random number generation comes from: mnemonic + passphrase (simplified).
No passphrase => empty string (""), only the mnemonic/seed is used.
Mistyping a passphrase will generate a completely new wallet.
[Hypothetically] You could share the mnemonic with your loved ones yet have perfectly hidden wallets.
Ps: a sentence is easy to remember and really hard for computers to brute force.