A non-custodial multichain cryptocurrency wallet, Trust Wallet, has suffered a hacked, resulting in the loss of over $7 million. The multichain wallet confirmed the incident in a post on its X page.Â
On-chain security expert ZachXBT was among the first to confirm the incident. He broke the news on his Telegram channel, reporting that several Trust Wallet users have had their wallets drained.
According to him, over $6 million was drained from victims in SOL, EVM tokens, and BTC. ZachXBT, while highlighting the incident, also noted that the December 24 update of the wallet browser extension might be the cause of the attack.
Similarly, another cybersecurity expert, Akinator, said he discovered malicious code in the December 24 upgrade. According to him, the script covertly transmitted wallet data to a phishing site, metrics-trustwallet.com. The domain was registered before the attack and is currently inaccessible.
He assessed that the recent update added hidden code that silently sends wallet data outside. According to him, the code pretends to be analytics, but tracks wallet activity and triggers when a seed phrase is imported. Akinator noted that the theory is consistent with social media reports claiming the funds were withdrawn after inputting seed phrases into Trust Wallet’s browser extension.
Sharing more insight into the development, Trust Wallet emphasized that the attack only affected 2.68% of the browser extension. It also urged users to upgrade to version 2.69 and provided a step-by-step guide on how to go about the upgrade.
Changpeng Zhao promises to reimburse affected Trust Wallet users
Changpeng Zhao, the founder of Binance and owner of Trust Wallet, has assured full compensation for those affected by the loss. He also noted that the teams are currently investigating how the attackers were able to submit a new version.
Analysts at Lookonchain have pinpointed the hackers’ addresses and reported that $4.2 million has been moved to platforms like ChangeNOW, FixedFloat, KuCoin, and HTX.
Since the start of the year, the crypto world has witnessed losses exceeding $3.4 billion due to hacking incidents. Notably, the February breach of Bybit alone accounts for $1.5 billion, nearly half of the total losses recorded in 2025.
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