365Crypto
Trust Wallet is entering a new phase after a Christmas Day security breach.
The focus has shifted from counting losses to verifying who was actually harmed.
The attack targeted Trust Wallet’s browser extension used on desktop devices.
The company has now linked 2,596 wallet addresses to the compromised software.
That number contrasts with nearly 5,000 reimbursement claims already submitted.
The gap raised concerns about duplicate filings and outright false reports.
Trust Wallet CEO Eowyn Chen said verification is now the top priority.
The team is cross-checking data to ensure funds go to real victims only.
Speed is no longer the main goal.
Accuracy matters more as attackers and opportunists try to exploit the recovery process.
The hack resulted in roughly $7 million in losses.
Binance, which owns Trust Wallet, has committed to covering the full amount.
Investigators also flagged deeper risks tied to the breach.
Malicious code reportedly accessed user data, raising insider threat concerns.
Security researchers believe the exploit was carefully prepared.
The attacker showed strong knowledge of the extension’s internal code.
Trust Wallet says a forensic investigation is ongoing.
Some cases remain unresolved as analysts finalize evidence and attribution.
Footnotes:
Browser extension: Software added to web browsers to extend wallet features.
Forensic investigation: A technical process to trace how an attack occurred.
