Trust Wallet Hit By Hack As Attackers Steal Over $7M In BTC, ETH, USDC, BNB

Multiple Trust Wallet users experienced unauthorized fund withdrawals within the past few hours, as assets were drained from their addresses without approvals, according to blockchain investigator ZachXBT, with over $7 million drained.

However, the occurrence and the time of the incident have raised concerns since it followed a recent update to Trust Wallet’s Chrome extension that was released on December 24.

Data shows a massive number of transfers between affected wallets, with a peak of activity focused during hours after the rollout of updates.

According to Trust Wallet, the incident only affected Browser Extension version 2.68, and advised users to disable it and upgrade to 2.69 immediately.

However, mobile-only users and all other extension versions are not affected.

The hack targeted mainly BTC, ETH, BNB, and USDC, with funds transferred immediately in each reported case, and reported activity showing no gradual or staged withdrawals.

ZachXBT identified several addresses linked to the reported thefts, including 0x3b09A3c9aDD7D0262e6E9724D7e823Cd767a0c74, 0x463452C356322D463B84891eBDa33DAED274cB40, and 0xa42297ff42a3b65091967945131cd1db962afae4.

These addresses received funds from multiple affected wallets.

Incident Triggers Immediate Concern Across The Crypto Community

Against the backdrop, the Trust Wallet report has led to a serious concern across the crypto space, with the timeline being characterized by transaction data, with the focus still on the recent update of the Chrome extension.

Binance co-founder, Changpeng “CZ” Zhao, has confirmed that Trust Wallet will cover the lost funds, with an assurance that the team is still investigating how the hackers were able to submit a new version.

Those who suspect compromise are advised to move the remaining funds to new wallets created from fresh seed phrases. 

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