Trust Wallet users lose $7 million to hacked Chrome extension
Analysis
Price Impact
MedA security breach in a widely used wallet like trust wallet, even if the funds are reimbursed, can erode user trust and cause fear across the market. while $7 million is not a huge sum for the entire crypto market, it highlights potential vulnerabilities. the reimbursement by binance/cz helps to contain the damage, especially for bnb, which is closely associated with binance.
Trustworthiness
HighThe news is reported by coindesk, a reputable crypto news source, and directly quotes changpeng zhao (cz) and on-chain detective zachxbt, confirming the details and the reimbursement plan.
Price Direction
NeutralInitially, there might be a slight bearish sentiment due to the security breach. however, the swift response from trust wallet identifying the compromised extension version and, more importantly, the commitment from binance co-founder changpeng zhao to fully reimburse the $7 million loss significantly mitigates the negative impact. this proactive approach helps restore confidence, leading to a likely neutral or quick recovery in prices rather than a prolonged downturn.
Time Effect
ShortThe issue was identified quickly, and a reimbursement plan was announced by a major entity (binance/cz) shortly after. such swift action typically limits the long-term negative consequences, making the market effect short-lived as confidence is rapidly restored.
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Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Trust Wallet users lose $7 million to hacked Chrome extension Changpeng Zhao, a co-founder of Binance, which owns the utility, said the losses will be reimbursed. By Sheldon Reback Dec 26, 2025, 9:53 a.m. Trust Wallet users lost some $7 million through a compromised Chrome browser extension. (Andrew Khoroshavin/Pixabay modified by CoinDesk) What to know : Trust Wallet users lost about $7 million following an update to its Chrome extension. Binance co-founder Changpeng Zhao said the losses will be reimbursed. Users are advised to avoid version 2.68 of the extension and upgrade to version 2.69. Trust Wallet users lost more than $7 million shortly after it released an updated version of its extension for the Chrome web browser. The stolen funds will be reimbursed , said Changpeng Zhao, a co-founder of crypto exchange Binance, which owns the utility. The breach, flagged Dec. 25 by onchain detective ZachXBT , was confirmed by the wallet team. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . "Community alert: A number of Trust Wallet users have reported that funds were drained from wallet addresses within the past couple hours," ZachXBT posted on Telegram. "While the exact root cause has not been determined coincidentally the Trust Wallet Chrome extension pushed a new update yesterday." Crypto wallets store the keys to users' cryptocurrency holdings, and malicious actors who gain access can authorize transfers of funds to destinations they control. Crypto theft rose to $6.75 billion this year, according to a Chainalysis report . The number of personal wallet compromises surged to 158,000 from 64,000 last year, though the amount stolen accounted for 20% of the total, down from 44%, it said. The breach affects version 2.68 of Trust Wallet's browser extension, the wallet team posted on X , urging users not to open that version and to upgrade to version 2.69. "Mobile-only users and all other browser extension versions are not impacted." Wallets Crime Trust Wallet Binance Exploits Plus pour vous State of the Blockchain 2025 Par CoinDesk Research 19 déc. 2025 Commissioned by Input Output Group L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below. Ce qu'il : 2025 was defined by a stark divergence: structural progress collided with stagnant price action. 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