Amid the Christmas cheer, Changpeng Zhao-backed Trust Wallet was hacked for at least $7 million. The incident came to light after multiple users of the self-custodial wallet witnessed fund drains following an extension upgrade on Chrome. The browser extension version 2.68 of the wallet platform was impacted as part of this attack.
In an urgent advisory, Trust Wallet has asked its users to disable the extension on Chrome browser version 2.68 and use the wallet on version 2.69. Notably, the mobile-only wallet users are not impacted and other browser extension versions are also safe to use.
On Friday, Binance co-founder Changpeng Zhao (CZ) took to X to address concerns of users, vouching that those impacted would be reimbursed by Trust Wallet itself.
“So far, $7 million has been affected by this hack. @TrustWallet will cover,” CZ said, noting that the user funds are safe. “The team is still investigating how hackers were able to submit a new version.”
Valuable crypto assets including Bitcoin, Ether, and Binance Coin have reportedly been stolen as part of this attack. Confirmation on the same from Binance remains awaited.
Famous crypto security influencer who goes by the handle @Zachxbt was among the first ones to burst updates on the situation – alerting community members. Screenshots of these updates have surfaced on X that also show the wallet addresses linked to the attackers.
More details on how the attack happened are awaited. Coin Headlines has reached out to the Trust Wallet team for a response.
The hack hit Trust Wallet just days after it launched zero-fee crypto purchases option via Reevolut across Europe and announced its entry into the thriving prediction markets space.
On the sidelines of the recently held Binance Blockchain Week 2025 in Dubai, Coin Headlines sat for a conversation with Eowyn Chen, the CEO of Trust Wallet. During the interaction, Chen said that the next scope of growth that Trust Wallet is exploring within is stablecoins. The platform is looking to launch a wallet for stablecoin HODLers.
Meanwhile, attackers are showing no signs of slowing down despite the market being lacklustre and the ongoing festive lull. As per a recent Chainalysis report, crypto hacks led to $3.4 billion in Bitcoin losses this year, clocking the biggest loss since 2022.