Trust Wallet Hacked For $7M

Leading multi-currency wallet, Trust Wallet experienced a mysterious security breach involving its browser extension on Christmas day, resulting in a total loss of $7 million.

Popular on-chain security investigator ZachXBT was among the first to raise the alarm, flagging suspicious activity even before the wallet itself publicly confirmed the hack. 

The influencer reported that hundreds of users have been affected by the attack, with most of the stolen assets consisting of SOL, EVM tokens, and BTC. 

The exact cause of the hack is yet to be fully determined at press time, but security analysts, including Akinator, have pointed to the latest Chrome wallet update. 

And considering that it has happened at a time when the market is volatile and people’s hopes for Bitcoin to rebound to the $100K mark this year have started to dim, demand for the best crypto wallet alternatives to Trust Wallet is rising again. 

Details of the Breach 

While developers are still investigating the root cause of the incident, experts’ analyses are already offering early clues. 

For example, a cybersecurity detective known on X as Akinator stated that the hack may not be unconnected to malicious code in the wallet’s December 24 browser extension upgrade. 

“A recent update added hidden code that silently sends wallet data outside.” It pretends to be analytics, but it tracks wallet activity and triggers when a seed phrase is imported,” he noted.

This claim aligns with several reports on social media suggesting that the attacker withdrew the funds after entering seed phrases into the browser extension. 

A user identified as Yuna, for instance, shared how $300,000 in crypto funds was withdrawn from her wallet within just a few minutes. 

Trust Wallet confirmed the security breach, but emphasized that only the 2.68 version of the browser extension was affected. 

The team, however, encouraged users to upgrade to 2.69, warning them not to open the browser extension until the update is applied to prevent further issues. 

“For users who haven’t already updated to Extension version 2.69, please do not open the Browser Extension until you have updated. This may help to ensure the security of your wallet and prevent further issues.”

Meanwhile, according to analysts at Lookonchain, most of the stolen funds have already been transferred to ChangeNOW, FixedFloat, KuCoin, and HTX. 

Spike in Cryptocurrency Hacks in 2025 Sparks Concern

Even though the number of attacks in 2025 has declined significantly, with 162 fewer incidents than in 2024, Certik reports indicate a spike in the total value stolen throughout the year. 

So far, over $3.41 billion in cryptocurrencies have been stolen, up from $3.34 billion in 2024. 

The most disastrous among the attacks was the $1.5 billion hack of Bybit, a Dubai-based exchange, linked to the North Korean Lazarus Group. This disastrous security breach alone accounted for nearly 70% of the year’s crypto theft. 

Other high-profile attacks include a $90 million hack of Iran’s Nobitex exchange, a $30 million theft from Upbit, a $44 million attack on India’s CoinDCX exchange, and a $27 million breach of BigONE.

Together, these incidents raise concerns about the rising sophistication and scale of cyberattacks targeting the cryptocurrency industry. 

Trust Wallet Hack – Bad Timing For Investors

Although there’s never a good time to get hacked, this one comes at a particularly bad moment, with the market still extremely volatile and Bitcoin and altcoins trading near multi-month lows. 

Unsurprisingly, the news of the attack will further unsettle many investors who are still grappling with the end-of-the-year bearish signals. 

However, the lessons from the incident are clear. Self-custodial wallets shouldn’t leave the entire security burden on users. At the same time, users must be proactive and practice good security habits consistently.

What Steps Are The Trust Wallet Team Taking?

Trust Wallet stated in their notice that they are actively working on de-escalating the issue and promise to keep sharing updates as soon as possible. 

“We understand how concerning this is and our team is actively working on the issue,” the team assured.

Similarly, the founder of Binance and owner of Trust Wallet, Changpeng Zhao affirmed that users’ funds remain safe, while stressing that the team will fully cover all affected losses. 

Best Crypto Wallet Alternatives

As mentioned earlier, Trust Wallet’s latest hack serves as a stark reminder that self-custodial wallets are not risk-free, particularly those that leave security entirely up to users. 

However, one particular non-custodial brand sets itself apart by providing people with something extra to defend themselves against all forms of exploits that continue to spread across the crypto landscape. 

Known as Best Wallet, this product is built with security at its core to deliver full protection in a market full of risks. While its self-architecture already keeps private keys in the hands of users, the wallet also integrates Fireblocks MPC-CMP technology, an advanced security method that eliminates any single point of failure that criminals can exploit. 

More so, to guard against phishing contracts and malicious assets, Best Wallet features built-in scam filters that automatically detect spam tokens. There are also modern protection techniques like biometric login, secure passcodes, and optional two-factor authentication – key features that have earned the wallet a WalletConnect certification. 

Add that to the regular security updates on its social media handles, particularly X and YouTube, and it’s easy to see why the wallet has successfully kept an unblemished track record. 

But security is just one of its market appeal. Best Wallet is also well-rounded in other crucial areas like functionality, ease of use, and anonymity. 

In terms of functionality, it empowers users with a full suite of tools built for today’s volatile market – from cross-chain swaps, fiat on-ramps, and portfolio management to staking opportunities and a token launchpad. 

The wallet’s interface is quite intuitive and user-friendly as well. This approach essentially allows even beginners to find their way around the platform easily. 

There’s also the added advantage of connecting other wallets to it and managing all your portfolios from one place. That way, it is much more convenient to keep an eye on your tokens’ performance in real-time than to go from one interface to another. 

To top it up, the wallet does not require users to complete KYC requirements, thereby  eliminating data leaks common with centralized exchanges. 

Prominent crypto influencers like ClayBro are already backing Best Wallet as the best crypto wallet to use this year. 

Download Best Wallet

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