Changpeng Zhao-Owned Trust Wallet To Cover $7 Million User Losses After Security Breach
Trust Wallet, a cryptocurrency wallet owned by Binance founder Changpeng “CZ” Zhao, said on Thursday it had identified a security breach affecting a specific version of its browser extension, with Zhao confirming that at least $7 million was stolen and that the company will reimburse all affected users.
Trust Wallet Urges Upgrade After Breach
Blockchain investigators first flagged unusual activity on the Trust Wallet browser extension over the Christmas period, with on-chain sleuths reporting hundreds of user accounts drained of funds after installing version 2.68 of the extension.
In a post on X, Trust Wallet advised users with the compromised extension to immediately disable it and upgrade to the latest version, 2.69, while emphasizing that mobile users and other extension releases were not affected. …
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