Trust Wallet has launched a wallet verification process following a recent hack that affected its Chrome browser extension.
The move aims to prevent false claims as the company works to reimburse victims of the exploit.
The wallet identified 2,596 compromised addresses but received nearly 5,000 claims. The discrepancy suggests some users may have submitted duplicate or fraudulent claims, prompting Trust Wallet to prioritize verification before issuing compensation.
Wallet verification process underway
Trust Wallet CEO Eowyn Chen stated that the verification process is designed to ensure accurate reimbursements. She emphasized that the company will prioritize accuracy over speed.
Chen confirmed the internal investigation flagged 2,596 addresses, while nearly 5,000 claims were submitted. She noted that some claims could be false or duplicated by users attempting to access reimbursements for themselves.
The team is combining multiple data points to verify wallet ownership. This approach aims to separate genuine victims from opportunists and prevent fraudulent payouts. Chen added that the investigation and compensation process are the company’s main priorities.
Details of the Chrome extension hack
The breach occurred on December 25 when version 2.68 of Trust Wallet’s Chrome extension was released with hidden malicious code disguised as an analytics module.
When users opened the compromised extension or entered their seed phrases, the code captured and transmitted the data to a fake domain registered days before the release. Hackers then used the stolen information to restore wallets remotely and drain assets.
Reportedly, affected assets include Bitcoin, Ethereum, Solana, and BNB Chain. Blockchain security firm SlowMist suggested that the hackers were familiar with the extension’s source code, indicating careful planning.
The stolen data also included personal information and passwords, which could be sold on the dark web. The hackers reportedly used centralized exchanges and chain bridges to launder the stolen funds.
Reimbursement and response
Trust Wallet previously announced compensation plans through an online portal where victims could submit claims. Binance founder Changpeng Zhao confirmed that the company would fully reimburse affected users.
Zhao also noted the investigation is ongoing to determine how the malicious code was inserted into version 2.68 and hinted at possible insider involvement. Trust Wallet has not confirmed this claim. Users are reassured that their funds remain safe under the company’s protection measures.
The company continues to investigate the hack and verify wallets to ensure only legitimate claims are reimbursed. Trust Wallet remains focused on restoring affected users and strengthening its security measures for future releases.
