Shiba Inu Warns Users to Disable Trust Wallet Extension v2.68 After $7M Hack; Update to v2.69
Shiba Inu community alerts users to a critical security risk after Trust Wallet confirmed a browser extension breach. Susbarium Shibarium Trustwatch flagged that Trust Wallet extension version 2.68 has a vulnerability and urged users to disable it immediately and update to v2.69 from the official Chrome Web Store. Mobile users and other extension versions are not affected. The incident follows a Trust Wallet hack that resulted in approximately $7 million in losses, a figure confirmed by Binance co‑founder Changpeng Zhao and Trust Wallet. Trust Wallet said it will refund affected users and warned of increased scams — fake compensation forms, impersonated support accounts, Telegram ads and direct messages — telling users never to share recovery phrases and to use official channels only. Key takeaways for traders: (1) Immediate action recommended for anyone using Trust Wallet extension v2.68 to avoid potential fund loss; (2) short‑term heightened phishing and scam risk could increase selling pressure or volatility for related assets; (3) custodial assurances of refunds may limit broader market contagion but watch for market sentiment shifts in meme coins like SHIB and forflows from wallets under attack.
Neutral
The news is primarily a security advisory rather than a fundamental change to Shiba Inu or market infrastructure, so its market impact should be limited and short‑lived. Immediate risks: users running Trust Wallet extension v2.68 face direct exposure to theft, which can trigger localized selling or panic in assets held in those wallets (notably meme coins like SHIB). Historical parallels: prior wallet extension or hot‑wallet breaches (e.g., MetaMask/extension phishing incidents) caused short spikes in sell pressure and volatility for affected tokens but rarely produced prolonged market downturns when providers moved to refund and patch quickly. Trust Wallet’s public confirmation, commitment to refund victims, and an advised patch (v2.69) reduce the chance of wide contagion. However, increased phishing/impersonation activity can sustain elevated risk and volatility in the short term as users move funds to cold storage or centralized exchanges. For traders: expect short‑term volatility and potential outflows from vulnerable wallets; monitor on‑chain withdrawals from known exploit addresses, official Trust Wallet communications, and SHIB orderbook liquidity. Medium to long term, if refunds proceed and no further exploits emerge, market impact should fade, making the overall view neutral.