Trust Wallet resolves issue after $170,000 customer losses


Trust Wallet stated that a critical vulnerability in its primary wallet software library has been patched.

Trust Wallet, a prominent cryptocurrency wallet, discovered and patched a critical WebAssembly (WASM) flaw in its primary wallet software library.

WebAssembly is a computer code format that enables developers to construct web applications using multiple programming languages, including those used in cryptocurrencies. The discovered flaw existed in the wallet’s primary software component, which used the WASM format to facilitate the construction of crypto wallets by users within the browser extension.

The Binance-backed wallet initiative stated in the post that it resolved the issue after discovering it. Nonetheless, two exploits were discovered. According to an official post on the project’s community forum, this resulted in an estimated loss of $170,000 due to prospective attacks exploiting the vulnerability.

Trust Wallet also highlighted that the vulnerability did not affect users who exclusively utilized the Trust Wallet mobile app, imported wallets into the browser extension using seed phrases from other wallet applications, or created new wallet addresses via the extension prior to November 14 or after November 23, 2022.

The team clarified in the community post that it had strengthened the security of its wallet product by undertaking more frequent security audits and bringing in external auditors to evaluate its security measures. The initiative reaffirmed its commitment to supplying its users with a secure wallet application.

The team clarified that the issue was unrelated to a recent security incident reported by MyCrypto founder Taylor Monahan, who claimed that over 5,000 ETH ($10 million) was inexplicably taken from multiple user wallets.

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