Popular crypto wallet Trust Wallet has responded to a vulnerability in its product that led to $170,000 in user loss.
Trust Wallet says it has fixed an issue with new wallets created between November 14 and 23 last year via the browser extension.
Rely on wallet say that users can consider themselves safe if they use only the mobile app, only imported wallet addresses that were created elsewhere in the browser extension, or used only the browser extension before November 14 or after November 23.
“For transparency, we have delayed this disclosure to prevent immediate attacks and reduce potential breaches, protecting assets.
Over the past few months, we’ve been aggressively sending 1-1 notifications to affected addresses, which until recently resulted in significant money transfers to secure addresses that were booming until recently.
Despite our best efforts to minimize losses, we proactively identified two likely exploits with a total loss of $170,000. To do justice to users, we have created a compensation process for affected users to bring them to health.
Trust Wallet currently has a claim process for the hack here.
In a blog post, Trust Wallet says the vulnerability was spotted by a security researcher through the project’s bug bounty program and arose from the wallet’s WebAssembly code, a type of programming language.
The Trust Wallet team also clarified that the vulnerability was unrelated to recent reports of MetaMask wallets being hacked and emptied.
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Featured image: Shutterstock/George Toubalis
