Trust Wallet Hack Alert as Expert Reveals $7m Losses Linked to Browser Extension Update
- Expert links Trust Wallet browser update to $7m in sudden user losses
- Users urged to upgrade extension immediately after reported wallet drain
- Company pledges refunds as investigation into extension vulnerability continues
Crypto users were shaken after fresh reports linked unexpected wallet drains to a recent Trust Wallet browser extension update. The situation escalated after onchain investigator ZachXBT raised alarms, triggering widespread concern among affected users. According to ZachXBT, several Trust Wallet users reported sudden fund losses within a short timeframe, creating urgency across the crypto community.
All affected users had interacted with Trust Wallet’s Chrome browser extension version 2.68. Although the precise technical cause remained unclear, he observed that the timing strongly coincided with the extension’s latest update. Moreover, blockchain tracking tied the activity to multiple theft addresses.
Based on early onchain analysis, ZachXBT estimated that attackers siphoned more than $6m from hundreds of wallets. He explained that the funds moved quickly across addresses, making immediate tracing difficult. However, the consistency across reports strengthened concerns about a version-specific vulnerability.
Trust Wallet later confirmed it identified a security incident impacting browser extension version 2.68. Consequently, the company urged users to disable that version immediately and upgrade to version 2.69. Additionally, Trust Wallet emphasized that mobile-only users and other extension versions remained unaffected.
The company also advised users who had not updated to avoid opening the extension until completing the upgrade. According to Trust Wallet, opening the compromised version could expose wallets to further risk. Besides that warning, the team stated it was actively investigating the issue and would continue providing updates.
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Expert estimates and company response shape user reaction
According to ZachXBT, an initial review of theft-linked addresses showed losses surpassing $6m. His findings circulated rapidly on social platforms, intensifying scrutiny on the update process. Meanwhile, Trust Wallet acknowledged the seriousness of the situation and moved to reassure its user base.
Changpeng Zhao, founder of Binance and owner of Trust Wallet, later addressed the incident publicly. He stated that roughly $7m had been affected and confirmed that Trust Wallet would cover verified losses. Moreover, he reassured users that remaining funds stayed secure and emphasized internal safeguards.
However, the incident unfolded amid a broader rise in crypto-related exploits. Industry estimates show that cryptocurrency theft exceeded $3.41bn from January through early December. That figure edged past last year’s $3.38bn total, highlighting persistent security challenges.
Consequently, analysts noted that extension-based vulnerabilities continue to pose risks, especially during update cycles. Additionally, the Trust Wallet case reinforced calls for users to verify updates and limit exposure during transition periods.
Trust Wallet stated it remains focused on remediation and user protection. The company encouraged users to follow official guidance closely. As investigations continue, the episode highlights how a single update can trigger significant losses when exploited at scale.
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The post Trust Wallet Hack Alert as Expert Reveals $7m Losses Linked to Browser Extension Update appeared first on 36Crypto.
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