Trust Wallet hacked, causing millions of dollars in losses, Binance founder hints at possible insider involvement

Trust Wallet confirmed that a specific version of its wallet browser extension suffered a security incident after receiving reports of funds being drained from multiple users’ wallets within hours.

Previously, the investigator “ZachXBT” had warned about unauthorized transmissions, but according to the security company “SlowMist”, the vulnerability was later discovered in version 2.68 of the plug-in.

SlowMist advises users to immediately disable the extension and upgrade to version 2.69 through the official Chrome store, suggesting that the incident may have been due to a supply chain attack that introduced malicious code that could leak the recovery phrase when opening the wallet.

Trust Wallet explains that only version 2.68 is affected, leaving users of the mobile app and the remaining versions unaffected.

Investigator “ZachXBT” also quoted the wallet company’s custodian as saying that those affected will receive compensation.

Binance founder “CZ” said the “Trust Wallet” wallet will recoup losses estimated at around $7 million and hinted that an insider may have played a role in facilitating the hack, adding to concerns about the security of browser wallets given the escalation of similar attacks in the cryptocurrency space.

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