Trust Wallet Restores Browser Extension After Chrome Web Store Bug – Mobile Crypto Wallet Alternatives

Trust Wallet, a self custodial cryptocurrency wallet with 220 million users globally, has had an eventful last 10 days. 

It started on Christmas Day when Trust Wallet confirmed that they had identified a security incident affecting their browser extension. Trust Wallet has both a mobile app and browser extension versions of their wallet.

It turns out that in the browser extension version 2.68 an attacker had managed to add a hidden code that sent wallet data to an external website. It triggered when a seed phrase was imported, this allowed the attacker to use those seed phrases to withdraw over $7 million of Solana, EVM tokens, and Bitcoin from users before Trust Wallet could react.

Trust Wallet’s Reaction

Changpeng Zhao, the founder of Binance which bought Trust Wallet in 2018, confirmed that all losses would be covered by Trust Wallet, meaning affected users would be reimbursed.

Trust Wallet also confirmed that it was only their browser extension version 2.68 that was affected and that their mobile app was not impacted.

What then followed was a slew of reimbursement claims from users, Trust Wallet stated that many claims were either duplicated or fake. People were sending fake claims in the hope of receiving a payout.

To combat this, Trust Wallet released another browser extension update. According to Trust Wallet CEO Eowyn Chen, this was designed with “a feature to help reimbursement claimants submit verification codes from their extension”.

Unfortunately, this browser extension update became temporarily unavailable on the Chrome Web Store due to a “bug”. Google acknowledged the issue and worked to fix it.

Chen later confirmed that the browser extension v2.71.0 was now available and affected users could claim reimbursement via a Customer Support Verification Code (CSVC). This would enable Trust Wallet to verify that the claim was genuine and ensure reimbursements are returned to the correct user.

This brings the browser extension back online and closes the long-running chapter of the last 10 days. User confidence in Trust Wallet’s extension however may take longer to restore.

Browser Extensions Vs Mobile Apps

As Eowyn Chen urged users to be alert to any fake versions of browser extensions it’s become clear that these can be a fragile tool in the crypto ecosystem.

Investigations will no doubt be underway as to how a hidden code was able to be added to the extension, it also calls into question the quality checks of this code.

In general, mobile apps are considered safer than browser extensions because attackers cannot as easily insert hidden code without it being flagged because apps use more human review.

What’s more, extensions interact with other web pages, making them more vulnerable. Although it’s sometimes more convenient to use a desktop browser extension, it can increase risk.

Mobile Crypto Wallet Alternatives

With browser extensions becoming more risky, many users are considering mobile crypto wallet alternatives.

One widely used mobile crypto wallet that focuses on self custody, multi chain support, and user controlled private keys is Best Wallet.

Built purely as a mobile wallet, it has fewer attack surfaces than wallets with browser extensions. What’s more, Best Wallet takes security seriously, with the integration of Fireblocks, a respected name in crypto protection, which provides insurance for users’ assets without requiring their personal data. 

More so, as a non-custodial wallet, Best Wallet keeps users’ private keys on their devices, protected by encryption and biometric authentication, ensuring that no one else has access to them. 

It also does not ask for personal details – no identity checks, no email signups, nothing. This keeps users in full control of their assets without the risk of data leakage. 

Beyond that, Best Wallet spans over 60 blockchains and supports more than 1,000 cryptocurrencies, appealing to users seeking to maintain a diverse portfolio. Cryptocurrencies can be bought using fiat and swapped directly within the wallet, eliminating the need to move them across multiple interfaces and incur transfer fees. 

Another major advantage is that it lets users connect their other wallets to it and conveniently manage all of their portfolios from one place. 

Available on mobile devices, this wallet strikes a perfect balance between ease of use and a reasonable level of functionality. Its interface is so user-friendly that even beginners can navigate all its embedded features without seeking third-party assistance. 

The wallet also goes further by providing a huge array of advanced features, such as staking perks, portfolio management, iGaming, and a token launchpad, making it a complete hub for crypto. 

And as browser extensions grow increasingly vulnerable to hacks – as evidenced by the recent Trust Wallet’s breach – Best Wallet offers a dependable alternative. Several YouTube videos by crypto influencers already reinforce this viewpoint, emphasizing its value as one of the best options available in the space right now. 

Download Best Wallet

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