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Users of the Binance-owned Trust Wallet will be reimbursed, co-founder of the world’s leading cryptocurrency exchange, Changpeng Zhao, has said after a security breach in the platform’s Google Chrome extension resulted in the theft of more than $7 million. According to the Trust Wallet, the exploit targeted a specific software update which has identified. Zhao took to social media platform X (formerly Twitter) to confirm that the company will step in to mitigate the damage. “So far, $7m affected by this hack. @TrustWallet will cover. User funds are SAFU. Appreciate your understanding for any inconveniences caused. The team is still investigating how hackers were able to submit a new version,” Zhao stated.
How Trust Wallet was ‘hacked’
The “security incident” was first flagged on Christmas Day (December 25) by ZachXBT – anonymous investigator known for exposing scams and unethical practices in the blockchain and crypto sector – who noticed a sudden spike in drained wallet addresses. The investigation quickly narrowed down the culprit: Version 2.68 of the Trust Wallet Chrome extension.The wallet team confirmed the breach via X (formerly Twitter), urging users to immediately verify their software version. It also provided information on how to ensure security of the wallet.We’ve identified a security incident affecting Trust Wallet Browser Extension version 2.68 only. Users with Browser Extension 2.68 should disable and upgrade to 2.69.Please refer to the official Chrome Webstore link here: https://chrome.google.com/webstore/detail/trust-wallet/egjidjbpglichdcondbcbdnbeeppgdphPlease note: Mobile-only users and all other browser extension versions are not impacted. We understand how concerning this is and our team is actively working on the issue.We’ll keep sharing updates as soon as possible.For users who haven’t already updated to Extension version 2.69, please do not open the Browser Extension until you have updated. This may help to ensure the security of your wallet and prevent further issues.Follow the step-by-step guide soonest possible:Step 1: Do NOT open the Trust Wallet Browser Extension on your desktop device to ensure the security of your wallet and prevent further issues.Step 2: Go to Chrome Extensions panel in your Chrome browser by copying following to the address line (shortcut to the Official Trust Wallet Browser Extension): chrome://extensions/?id=egjidjbpglichdcondbcbdnbeeppgdphStep 3: Switch the toggle to “Off” below the Trust Wallet if it’s still “On”.Step 4: Click “Developer mode” in the upper right corner.Step 5: Press the “Update” on the left upper corner.Step 6. Check the version number: 2.69. This is the latest and secure version.Security experts recommend that users affected by the 2.68 update move their remaining funds to a new, fresh wallet address generated on the updated 2.69 version.