Dec 26, 2025
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Trust Wallet Hack Causes $6.77M Loss, CZ Promises Compensation
Trust Wallet Security Incident
- Trust Wallet, a non-custodial crypto wallet owned by Binance co-founder Changpeng "CZ" Zhao, experienced a security breach in its browser extension.
- The incident resulted in user losses totaling $6.77 million.
- Hacker transferred $4.25 million of the stolen funds to centralized exchanges such as KuCoin, HTX, ChangeNOW, and FixedFloat.
- The breach affected version 2.68 of the Trust Wallet browser extension.
- Users were advised to update to version 2.69 immediately to prevent further issues.
- The attack involved malicious code triggered when users imported a seed phrase.
- Mobile users and other extension versions were not impacted.
Zhao's Response
- Changpeng Zhao promised that Trust Wallet will cover all user losses.
- The company is investigating how the hackers managed to introduce the malicious version.
Community Reaction
- Some community members suspect an insider job due to simple flaws in the code.
- Concerns raised about the lack of automated audits that could have caught the malicious code.
- Users urged Trust Wallet to enhance security measures to prevent future incidents.
Impact on Trust Wallet Token (TWT)
- TWT's price dropped from $0.82 to $0.76 but quickly recovered back to $0.82.
- Market cap remains at $353 million.
- Trust Wallet reported a profit of $13.59 million in 2025, down 25% from 2024.
- User base reportedly exceeded 220 million in 2025.
For more details, visit Coinspeaker.