Trust Wallet Records Over $6 Million Suspected Hack

ZackXBT, a blockchain influencer, in a recent update, has shared troubling news on his Telegram channel, revealing that multiple Trust Wallet users had reported having their funds stolen.

As it stands, the influencer on this announcement has updated his followers, stating that the number of victims has grown to hundreds or even higher. To this end, he analyzed that over $6 million has been drained from the account of the users in the form of SOL, EVM tokens, and Bitcoin.

Possible Supply Chain Attack Linked to Wallet Extension Update

At the moment, the cause of the hack remains unclear, but some experts believe it could be related to a supply chain attack tied to a recent update to Trust Wallet’s browser extension on December 24.

As it stands, a user known as Akinator suggested that the update included hidden code that sends wallet data and vital information out of the user’s device. This code pretends to be analytics but actually tracks wallet activity, especially when a seed phrase is imported. This theory matches reports on social media, where users claimed that their funds were withdrawn after they entered their seed phrases into the Trust Wallet browser extension.

Trust Wallet’s Response and Recommendations to Victims

ZackXBT expressed hope that Trust Wallet would offer compensation to the victims if it is confirmed that the wallet extension is responsible for the breach. Meanwhile, security researcher Vladimir S. revealed that he had contacted a Trust Wallet team member anonymously, suggesting all Trust Wallet extensions be uninstalled to avoid further damage.

As of now, Trust Wallet has not publicly commented on these allegations. To this end, Vladimir S. has, however, stated that the team is investigating the issue and will provide updates and recommendations on the situation soon.

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