The Chrome extension updated to version 2.68.0, and reports of a Trust Wallet hack soon followed. Instead, many reports covered the immediate loss of funds. Users X posts recorded that wallet balances have dropped as soon as seed phrases are imported into the new extension.
Trust Wallet Hack Shows Rapid Fund Drains Across Multiple Assets
On-chain investigator ZachXBT claimed that several Trust Wallet accounts had their funds drained unexpectedly over a brief period of time. The blockchain records revealed a high rate of transfers between affected wallets. The activity was found to be focused during hours after the rollout of updates..
Bitcoin, Ethereum, and BNB were all losing and funds was transferred immediately in each reported case. Reported activity showed no gradual or staged withdrawals.
On chain analysis reveals that exploiters make use of several receiving addresses. Funds moved across several wallets. The routing pattern appeared consistent across cases. Similar transaction structures surfaced in multiple reports.
On-Chain Data Shows $4.3 Million Drain
Blockchain records indicate that more than $4.3 million appears to have been drained. The estimate reflects visible transfers tied to reported wallets. The figure is based solely on publicly available on-chain data.
Source: ARKHAMZachXBT identified several addresses linked to the reported thefts, including 0x3b09A3c9aDD7D0262e6E9724D7e823Cd767a0c74, 0x463452C356322D463B84891eBDa33DAED274cB40, and 0xa42297ff42a3b65091967945131cd1db962afae4. These addresses received funds from multiple affected wallets.
Trust Wallet has not made an official announcement on the case. The cause is still not confirmed. The update of the Chrome extension has not been explained to be a direct contributor at the company.
As of press time, no mitigation guidelines and recovery measures declared. It has not been reported on the corrective measures concerning the crypto hack.
Trust Wallet Hack is still under evaluation according to on-chain evidence. The timeline is still characterized by transaction data, with the focus still on the December 24 update of the Chrome extension.
Source: https://coingape.com/trust-wallet-hack-users-hit-as-hacker-drains-btc-eth-bnb/
