Trust Wallet users lose $7 million to hacked Chrome extension
TL;DR
Trust Wallet users lost over $7 million due to a hacked Chrome extension update (version 2.68). Binance co-founder Changpeng Zhao promised reimbursement, and users are advised to upgrade to version 2.69.
Key Takeaways
- •Trust Wallet's Chrome extension version 2.68 was compromised, leading to over $7 million in losses for users.
- •Binance co-founder Changpeng Zhao announced that the stolen funds will be reimbursed to affected users.
- •Users should avoid version 2.68 and immediately upgrade to version 2.69 of the extension to secure their assets.
- •The breach was flagged by onchain detective ZachXBT and confirmed by the Trust Wallet team, with mobile users and other extension versions unaffected.
- •This incident highlights the rising threat of crypto theft, with personal wallet compromises increasing significantly in recent years.
What to know:
- Trust Wallet users lost about $7 million following an update to its Chrome extension.
- Binance co-founder Changpeng Zhao said the losses will be reimbursed.
- Users are advised to avoid version 2.68 of the extension and upgrade to version 2.69.
- Trust Wallet users lost about $7 million following an update to its Chrome extension.
- Binance co-founder Changpeng Zhao said the losses will be reimbursed.
- Users are advised to avoid version 2.68 of the extension and upgrade to version 2.69.
Trust Wallet users lost more than $7 million shortly after it released an updated version of its extension for the Chrome web browser. The stolen funds will be reimbursed, said Changpeng Zhao, a co-founder of crypto exchange Binance, which owns the utility.
The breach, flagged Dec. 25 by onchain detective ZachXBT, was confirmed by the wallet team.
"Community alert: A number of Trust Wallet users have reported that funds were drained from wallet addresses within the past couple hours," ZachXBT posted on Telegram. "While the exact root cause has not been determined coincidentally the Trust Wallet Chrome extension pushed a new update yesterday."
Crypto wallets store the keys to users' cryptocurrency holdings, and malicious actors who gain access can authorize transfers of funds to destinations they control. Crypto theft rose to $6.75 billion this year, according to a Chainalysis report. The number of personal wallet compromises surged to 158,000 from 64,000 last year, though the amount stolen accounted for 20% of the total, down from 44%, it said.
The breach affects version 2.68 of Trust Wallet's browser extension, the wallet team posted on X, urging users not to open that version and to upgrade to version 2.69. "Mobile-only users and all other browser extension versions are not impacted."
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