Trust Wallet Begins Verification After $7 Million Breach

Highlights:

• Trust Wallet begins strict verification after Christmas Day browser extension breach affecting thousands of users.
• CEO Eowyn Chen confirms 2,596 compromised wallets, and nearly 5,000 claims raise concerns about duplicate requests.
• Binance pledges full reimbursement as forensic review continues into $7M targeted attack on desktop extension.

Trust Wallet said it has entered a verification phase after a security breach tied to its browser extension on Christmas Day. After the incident, the company found thousands of affected wallet addresses. However, the number of refund requests soon crossed internal estimates, which raised concerns about claim accuracy.

Thousands Claim Losses as Trust Wallet Confirms 2,596 Affected Wallets

On Monday, Chief Executive Officer Eowyn Chen said that 2,596 wallet addresses were directly connected to the compromised extension. In contrast, almost 5,000 reimbursement requests were submitted during the early response period. Because of this gap, the company became concerned about duplicate claims and requests from unrelated parties. As a result, Chen explained that careful verification of wallet ownership is necessary to make sure funds go to the correct users. She added that the team is actively reviewing claims and using multiple data points to separate genuine victims from bad actors.

Trust Wallet said its response has shifted from calculating losses to screening claims. The company explained that accuracy will now lead the process, even if refunds take more time. As part of this step, internal teams are checking ownership records to lower the risk of funds going to the wrong users.

2/ We’re prioritising accuracy over speed to protect affected users, and we aim to share further work-in-progress details as soon as we can, likely tomorrow.

So far, we’ve identified 2,596 affected wallet addresses. From this group, we’ve received around 5,000 claims which…

— Eowync.eth (@EowynChen) December 28, 2025

After finishing the early damage review, Chen said verification has become the main focus. She added that Trust Wallet will share more updates as checks continue for each wallet address. Chen also said the work is still underway and is happening alongside a wider forensic review. While some data is still being confirmed, she noted that the team already has strong working assumptions for several cases.

Earlier, on Dec. 26, Trust Wallet said its browser extension had been hit by a targeted attack focused on desktop users. At that time, early outside reviews suggested losses of about $7 million. Those estimates also indicated that several hundred users were affected.

Trust Wallet Confirms Full Reimbursement After Browser Extension Hack

Earlier, Binance co-founder Changpeng Zhao said that all losses linked to the incident would be fully covered. Since Trust Wallet operates under Binance ownership, the company said it can reimburse users without shifting any costs onto those affected. Later on, cybersecurity firm SlowMist reported that the malicious browser extension had exported users’ personal information. This detail raised fresh concerns about how much access the attacker had to systems connected to the extension. 

So far, $7m affected by this hack. @TrustWallet will cover. User funds are SAFU. Appreciate your understanding for any inconveniences caused. 🙏

The team is still investigating how hackers were able to submit a new version. https://t.co/xdPGwwDU8b

— CZ 🔶 BNB (@cz_binance) December 26, 2025

In addition, SlowMist co-founder Yu Xiam said the exploit appeared to be planned over several weeks. Based on the findings, the attacker showed deep knowledge of the extension’s source code, which suggested careful preparation rather than a quick or random attack.

Blockchain investigator ZachXBT earlier estimated that hundreds of wallets were impacted. Some industry voices also suggested that the ability to submit a harmful extension update may require access beyond standard external methods.

Trust Wallet has not provided a final timeline for reimbursements. The firm said public updates will follow once verification milestones are met and remaining uncertainty is reduced.