Trust Wallet users who generated their wallet addresses using a browser extension between November 14 and November 23, 2022, experienced a $170,000 loss. As a result, Trust Wallet issued a refund to the impacted users.
Due to a $170,000 incident, Trust Wallet issued a refund for cryptocurrency losses. The impacted users had generated their wallet addresses using a browser extension between November 14 and November 23, 2022.
Reimbursement for crypto addresses generated between November 14 and November 23, 2022, using the TrustWallet.
Binance’s official non-custodial multi-currency wallet, Trust Wallet, exposed two suspected exploits that likely cost its users $170,000 in cryptocurrency losses in a roundup of tweets.
Users who had created their wallet addresses via the browser extension between November 14 and November 23 appear to have been vulnerable. Additionally, the discovery of that vulnerability resulted in two exploits and a $170,000 loss overall.
There are currently 500 susceptible crypto addresses with an outstanding amount of $88,000.
Through its bug bounty program, Trust Wallet found the issue. In November 2022, a WebAssembly vulnerability was discovered in the free and open-source Wallet Core library.
The solution to the $170,000 cryptocurrency incident and Trust Wallet
Trust Wallet, who also tweeted, said this disclosure was delayed to prevent imminent danger.
Thus, the crypto issue may be resolved. Binance Wallet advised affected users to deposit compensation to a new Trust Wallet address immediately.
In recent months, the company has actively issued 1-1 notifications to compromised addresses, resulting in large cash transfers to safe and increasing addresses.
The two publicly published exploits are not linked to wallet addresses from November 14–23, 2022. The second exploit was likely identified between late March 2023 and late December 2022.
4.5 million assets, including NFTs, are supported
In addition, TrustWallet is a non-custodial wallet, allowing users to control and own the private keys needed to access their individual funds. Currently, the platform has 10 million active users.
Exact post-collapse of FTX’s crypto-exchange time saw the emergence of Trust Wallet for Bitcoin custody.
It was yet November 2022, so it might have just been an accident. Changpeng CZ Zhao also frequently used Twitter around that time to advertise TrustWallet.
In addition, it appears that the price of the wallet token, TWT, also increased at same times, rising from $1.1 to $2.2 in a single day to $2.3 the following day. an item that has lost its strength over time. In actuality, TWT is currently valued $1.19.