In a December 26 update on social media, CZ, founder of Binance, stated that the Trust Wallet security incident has resulted in an approximate $7 million loss. The post confirms that Trust Wallet will fully absorb the related losses, while users’ funds remain safe. He added that investigators are evaluating how the attacker managed to submit and deploy a new browser extension version, a key vector behind the breach.
The disclosure underscores ongoing risk management in the crypto wallet space and highlights the importance of secure extension deployment. With losses borne by the project and customer funds secured, the focus now turns to the ongoing investigation into the extension submission method. Expect further official updates as investigators progress.
Source: https://en.coinotag.com/breakingnews/trust-wallet-hack-cz-confirms-7-million-loss-user-funds-safe-as-binance-investigates-malicious-browser-extension-update
