Trust Wallet Moves to Reimburse Users After $7M Extension Breach

Trust Wallet and the cryptocurrency market are still facing high levels of risk concerning the Security of wallets and users. The browser extension is an open area for many attacks, as consumers are selecting self-management tools (wallets) more frequently than in prior years.

Source: CoinDesk

Trust Wallet Reports $7,000,000 Losses & Commits to Offer Full Refund

IT has has announced that it experienced a $7 million loss due to a security event on Christmas Day with its browser extension. Trust Wallet posted on their social media platform X, and upon investigation, they believe that they have sufficiently determined the amount of losses from this event.

They have stated that customer service is their number one priority and have pledged to fully refund all customers who were affected.

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Incident Linked to Browser Extension Version 2.68

The company reiterated that the breach was limited exclusively to version 2.68 of its browser extension. Users running that version were urged to disable it immediately and upgrade to version 2.69 via the official Chrome Web Store. Trust Wallet stressed that mobile-only users and all other extension versions were not affected and warned users not to interact with messages from unofficial channels.

CZ Says Insider Involvement “Most Likely”

Changpeng Zhao, the creator of Binance, stated prior that Trust Wallet would be responsible for the losses incurred, and user funds were “SAFU” (safe) as part of a reassurance to its customers.In a follow-up reply on X, Zhao added that insider involvement was “most likely” as investigations continued.

According to blockchain security expert Yu Xian from TrustMist, the hacker began their preparations as early as the first week of December, created a backdoor in Trust Wallet on December 12, and began transferring funds through Trust Wallet into their own accounts on December 25.

New wallet attacks are becoming more common throughout the crypto industry as reported by Chainalysis, which estimates the total number of individual wallet incidents at approximately 158,000, impacting at least 80,000 victims with total losses approaching $713 million. The total amount of stolen crypto in 2025 will exceed $3.4 billion.

Also Read: Trust Wallet Pledges To Cover $7M Lost In Christmas Day Hack, CZ Says