Trust Wallet Suffers Security Breach As Binance Founder CZ Confirms $7 Million Loss ⋆ ZyCrypto

Bad actors have carted off over $7 million worth of funds from Binance’s Trust Wallet following an ingenious hack on the non-custodial exchange. While a post-mortem is underway, Binance founder Changpeng Zhao (CZ) has confirmed that the wallet will reimburse users affected by the hack.

Trust Wallet Loses $7 Million In Security Breach

According to an official announcement, Trust Wallet has suffered a system compromise affecting a specific version of its web browser extension. Per the statement, the breach impacted only version 2.68 of the Trust Wallet Browser Extension, with mobile-only users and other browser extensions declared safe.

Preliminary findings indicate that bad actors rolled out a malicious version of the Trust Wallet Browser Extension as an update, bypassing security guardrails. One working theory is that the hackers inserted code that contained an external URL into a legitimate extension file update designed to steal seed phrases.

Binance founder CZ did not rule out the possibility of an insider working with the hackers to submit a new version of the browser extension.

At press time, the team confirmed that over $7 million has been adversely affected by the security breach. In an X post, CZ disclosed that Trust Wallet will reimburse users for the losses suffered as a result of the incident, adding that a full investigation is underway.

“So far, $7m affected by this hack. Trust Wallet will cover,” said CZ. “The team is still investigating how hackers were able to submit a new version.”

Meanwhile, the team has issued a guide for users to help prevent further losses. A warning urged affected users not to open Trust Wallet Browser Extension v2.68 on their desktop devices. Instead, users must follow a specified procedure to update their extensions to the latest version, 2.69.

A Streak Of Hacks

This is not the first time Trust Wallet has fallen victim to bad actors. In 2023, Trust Wallet confirmed that certain wallets created via its browser extension contained a security vulnerability, resulting in six-figure losses for several users.

In early 2024, a third-party customer support service deployed by Trust Wallet suffered a data compromise. While private keys and funds were not adversely affected, some user contact data were exposed.

At the start of the month, Binance co-CEO Hi Ye’s WeChat account was hacked by bad actors promoting a BNB memecoin. Meanwhile, India’s CoinDCX suffered a near-$45 million loss from a vulnerability exploit in mid-2025, joining a long streak of exchanges grappling with jarring hacks.