CZ Reacts to Trust Wallet Hack. Are Funds SAFU?
Analysis
Price Impact
LowWhile a $7 million hack is significant, cz's immediate announcement that binance will fully reimburse all affected trust wallet users from its treasury largely mitigates direct financial price impact on cryptocurrencies. the issue is contained to a specific browser extension version and is being addressed.
Trustworthiness
HighThe information comes directly from changpeng zhao, ceo of binance (which owns trust wallet), providing a definitive and authoritative response to the incident.
Price Direction
NeutralThe hack itself is a bearish event for security, but the swift and decisive action by cz to ensure all funds are 'safu' through reimbursement removes significant selling pressure. this commitment to user protection helps restore confidence, preventing a major negative price reaction for bnb or the broader market.
Time Effect
ShortThe vulnerability has been patched (version 2.69 released), and the reimbursement plan is immediate. any market reaction related to this specific event would be short-lived as the crisis is being managed promptly.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News The details of the hack An inside job? Advertisement Binance CEO Changpeng Zhao has clarified that funds are "SAFU" following the latest Trust Wallet Hack. The company will use its own treasury to reimburse the victims of the $7 million theft. The details of the hack The Trust Wallet Browser Extension Version 2.68 was recently compromised. HOT Stories CZ Reacts to Trust Wallet Hack. Are Funds SAFU? Crypto Market Prediction: Is Shiba Inu (SHIB) Saved? XRP Can Enter New Year With Bull Run, Bitcoin (BTC): There's a Problem Biggest-Ever Bitcoin Options Expiry to Take Place Tomorrow Ripple Exec Issues Bullish 2026 Prediction, Shiba Inu (SHIB) Price Defies Negative Trend, XRP Beats Bitcoin in Quantum Resistance — Crypto News Digest Attackers utilized a vulnerability in this specific version to drain cryptocurrency from users' wallets. Advertisement Wallet has acknowledged the breach and released a patched version (Version 2.69) to fix the security hole. Users running Trust Wallet Browser Extension Version 2.68 on desktop are currently at risk. Do not click on the extension icon or try to open it. Opening the compromised version (2.68) may trigger the exploit and drain your funds. You Might Also Like Thu, 12/25/2025 - 09:04 Binance Founder CZ Reveals Brutal Truth Behind Every 'Perfect' Bitcoin Buy By Gamza Khanzadaev Advertisement PeckShield reported that the scale of the theft is significant and larger than initially estimated. Early reports stated that $2.8 million had been stolen, but further analysis confirmed that this figure could reach $6 million. The attackers are actively moving the stolen funds to mix them or cash them out. Approximately $2.8M is still sitting in the attacker's addresses across Bitcoin , EVM (Ethereum Virtual Machine) chains, and Solana. The majority (more than $4M) has been sent to centralized exchanges ($3.3 million to ChangeNOW, $447,000 to KuCoin, $340,000 to FixedFloat). An inside job? He notes the team is investigating how hackers were able to "submit a new version" (Version 2.68) to the Chrome Web Store. This implies the hack was a compromise of the release pipeline. The security failure likely involved a compromised employee or a rogue developer who had the credentials to push an update to the Google Web Store. #Changpeng Zhao