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Trust Wallet Implements Address Verification for Reimbursement After $7M Hack

Trust Wallet Implements Address Verification for Reimbursement After $7M Hack

Author:

Global Cryptocurrency

Published:

2025-12-30 04:05:01

9

2

BTCCSquare news:

Trust Wallet has initiated a verification process for compromised addresses following the December 25 breach of its Chrome extension, which resulted in $7 million in losses. The company reports receiving nearly 5,000 claims but has only validated 2,596 affected wallets, suggesting potential duplicate submissions or fraudulent activity.

CEO Eowyn Chen emphasized prioritizing accuracy over speed in reimbursements, with further updates expected soon. The incident highlights ongoing security challenges in self-custody crypto solutions as the industry grapples with balancing user protection and decentralization principles.

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