Trust Wallet to Cover $7M Lost in Browser Extension Hack: Zhao

Trust Wallet users lost approximately $7 million due to a security incident affecting the browser extension version 2.68, which was compromised by a backdoor planted as early as December 8th. Changpeng Zhao, co-founder of Binance which owns Trust Wallet, announced that the company will cover the lost funds. The exploit, which occurred on Christmas Day, involved the attacker collecting users' personal information before transferring assets. Security experts, including SlowMist's Yu Xian and advisor Anndy Lian, suggested the attack was likely an insider job due to the attacker's deep familiarity with the extension's source code and their ability to submit a new version to the website. Trust Wallet has advised affected desktop users to upgrade to version 2.89.

(Source：Cointelegraph)