Trust Wallet Reimburses Users Following Devastating Security Breach
Trust Wallet, a crypto wallet provider, has revealed a security vulnerability that caused some users to lose almost $170,000. The company became aware of the issue after a security researcher reported a vulnerability in the open-source library Wallet Core through its bug bounty program in November 2022. According to the company, the vulnerability affected new wallet addresses generated between November 14 and 23, 2022, through its browser extension. Trust Wallet has since fixed the vulnerability, and all addresses created before or after those dates remain safe. Two exploits as a result of the breach led to a total loss of nearly $170,000, with around 500 vulnerable addresses still holding an $88,000 balance. Trust Wallet has offered a refund and gas fee assistance to cover the costs of fund transfers for affected users. Eligible losses due to the vulnerability will also be reimbursed, and a reimbursement process has been established. Trust Wallet advises affected users to move the remaining balance on all vulnerable addresses as soon as possible.