$7 Million Crypto Loss Highlights Security Flaws in Trust Wallet's Chrome Extension

$7 Million Crypto Loss Highlights Security Flaws in Trust Wallet's Chrome Extension

Trust Wallet's recent security breach has impacted around one million users, resulting in a theft of $7 million across various cryptocurrencies. Immediate updates are crucial to protect assets.

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Approximately $7 million has been lost due to a security breach affecting Trust Wallet's Google Chrome extension version 2.68, which has around one million users. The service is advising users to upgrade to version 2.69 immediately to mitigate risks associated with this incident.

Trust Wallet confirmed that they will refund all affected users and emphasized that assisting these users is their primary focus. Users are cautioned against engaging with any communications that are not from official Trust Wallet channels.

According to blockchain security firm SlowMist, the compromised version of the extension contained malicious code designed to extract mnemonic phrases from users' wallets. The investigation revealed that the stolen assets included approximately $3 million in Bitcoin, $431 in Solana, and over $3 million in Ethereum, with a significant portion of the funds already laundered through centralized exchanges.

Further analysis by blockchain investigator ZachXBT indicated that while roughly $2.8 million remains in the hacker's wallets, more than $4 million has been transferred to various exchanges, including $3.3 million to ChangeNOW and $447,000 to KuCoin.

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