​Trust Wallet Chrome Extension Breach Triggers $7 Million Loss, Compensation Promised

Trust Wallet, a self-custodial cryptocurrency wallet affiliated with Binance founder Changpeng Zhao, has confirmed a security breach that led to the theft of at least $7 million in digital assets. Zhao, widely known as CZ, stated that all affected users will be fully compensated.

The incident stemmed from a vulnerability in a specific version of Trust Wallet’s Google Chrome browser extension. According to blockchain investigator ZachXBT, the flaw resulted in losses for hundreds of users. Trust Wallet has since urged users to disable the affected extension and upgrade to the latest version.

“User funds are SAFU,” Zhao said in a post on X, adding that the team is still investigating how attackers were able to submit a compromised version of the extension. Trust Wallet separately confirmed that users on mobile apps and other browser extensions were not impacted.

Trust Wallet reported that the total losses linked to the breach currently stand at around $7 million and reiterated its commitment to covering all damages incurred by users.

Acquired by Zhao through Binance in 2018, Trust Wallet has grown into one of the largest crypto wallet platforms, claiming over 220 million accounts, though the number of unique users may be lower due to multiple account creation.

The incident comes amid a broader period of volatility and security concerns in the crypto sector. It also coincides with Trust Wallet’s recent move into event-based prediction markets, following similar steps by competitors such as MetaMask. Separately, markets experienced brief turbulence during the holiday period, including a short-lived price drop in Bitcoin on Binance linked to low liquidity in a stablecoin trading pair.

The investigation into the Trust Wallet breach remains ongoing as the company works to strengthen its security controls and prevent similar incidents in the future.