Crypto wallet, Trust Wallet, recently discovered a significant security flaw in its software library. This vulnerability affected wallet addresses on Ethereum and other blockchains made through the Trust Wallet browser extension between November 14 and November 23, 2022. The problem relates to WebAssembly, a code format that enables the creation of web apps using multiple programming languages.
Although arising from a coding flaw, Trust Wallet quickly addressed the problem. Nevertheless, two attacks exploiting the issue resulted in an estimated $170,000 loss. While this highlights serious concerns, Trust Wallet emphasized that users’ funds were mostly protected.
To ensure the secure use of its web applications and prevent potential hacks, Trust Wallet got external auditors onboard to review and enhance its security measures. The team also informed its community of an upcoming reimbursement system, which will support affected users via the browser extension.
The company stressed that the issue did not affect Trust Wallet mobile users or anyone who imported wallets into the browser extension before November 14 or after November 23. In conclusion, Trust Wallet is committed to providing a secure and user-friendly wallet application for all.
The wallet provider also noted that the issue had nothing to do with the recent security incident reported by MyCrypto’s founder Taylor Monahan. According to her, more than 5,000 ETH (valued at $10 million) were mysteriously taken from multiple accounts.