Trust Wallet Chrome extension hack drains $7M; Binance pledges reimbursements
Trust Wallet’s Chrome extension (v2.68) was compromised after a malicious update, allowing attackers to steal roughly $7 million from over 600 users across Bitcoin, Ethereum, Solana and EVM-compatible chains. On‑chain investigator ZachXBT first flagged the exploit; Trust Wallet and Binance confirmed the loss. Binance co‑founder Changpeng Zhao (CZ) pledged full reimbursements and called users’ funds “SAFU.” Trust Wallet released an emergency patch (v2.69) to stop the theft; users are urged to avoid extension v2.68 and update immediately. Mobile app users and other extension versions are reportedly unaffected. The incident highlights persistent client‑side risks for browser extensions and follows a broader industry trend of rising personal wallet compromises — Chainalysis reports $6.75 billion stolen this year with increasing personal‑wallet hacks. Traders should update to v2.69, avoid using unverified extension builds, monitor on‑chain flows from exploited addresses, and watch BTC/ETH options expiries and stablecoin liquidity dynamics that could amplify short‑term volatility. Primary keywords: Trust Wallet hack, Chrome extension breach, Binance reimbursement. Secondary keywords: wallet security, extension update, version 2.68, upgrade 2.69.
Neutral
This incident is primarily a security breach affecting a self‑custodial Chrome extension rather than a protocol vulnerability in a specific cryptocurrency. Direct price impact on major assets (BTC, ETH, SOL) is likely limited because the stolen amount (~$7M) is small relative to overall market caps and circulating liquidity. Short‑term effects could include localized selling if exploited funds are moved on‑chain into exchanges, and heightened volatility around options expiries and stablecoin flows as traders react to news and monitor on‑chain movements. Longer term, recurrent wallet‑level hacks can erode retail confidence in browser extensions and marginally influence demand for self‑custodial tools, but they are unlikely to materially change macro fundamentals or sustained price trends for major coins. For traders this rates as neutral: stay alert for on‑chain sell pressure from the exploited addresses and adjust risk management, but do not expect a major market shift based solely on this event.