Binance founder and former CEO Changpeng Zhao has reassured users following a security breach at Trust Wallet that resulted in losses of approximately $7 million, stating that the company will fully cover the affected funds.
Zhao, commonly known as CZ, addressed the incident in a post on X after Trust Wallet publicly acknowledged the breach. His post stated:
“So far, $7m affected by this hack. Trust Wallet 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.”
Trust Wallet Hack Linked to Extension Vulnerability
The Trust Wallet hack occurred on December 25 and led to losses across multiple cryptocurrencies, including Bitcoin, Ethereum, and BNB. The incident followed the discovery of a vulnerability on December 24 in Trust Wallet’s Browser Extension version 2.68.
In a subsequent update, the Trust Wallet team confirmed that the breach was limited to the Browser Extension version 2.68. The company urged affected users to immediately upgrade to version 2.69, stating that mobile-only users and users of other browser extension versions were not impacted.
Part of a Broader Trend of Crypto Security Breaches
The Trust Wallet case is one more event to be included in the list of the high-profile security breaches in the cryptocurrency sector.
The Chainalysis report of the recent estimates shows the total crypto hack of 2025 to be the amount of 3.14 billion. The biggest individual event was the Bybit exchange hack that stood at a loss of 1.5billion, and that was 44 percent of all the money stolen this year.
The report also associates the North Korean hacking teams with some $2 billion dollars of crypto losses due to security breaches in 2025. Others that have occurred recently include the Upbit cyberattack that resulted in the loss of approximately 1.77 million dollars.
Although the losses incurred in this year are slightly less than the losses incurred last year because of the fact that this has been recorded at 3.14 billion as compared to the 3.38 billion recorded last year, industry leaders indicate that the numbers are just a pointer of the weaknesses that still exist. When discussing the Trust Wallet hack, the founder of OKX, Star Xu, said, It is unbelievable and a lesson to the whole industry that security is never complete.
Research into the Trust Wallet breach continues as the event reminds people that software security and user protection remain in question in the fast-changing crypto-world.
