by Enoch Mwathwa
Binance founder Changpeng Zhao has moved quickly to calm user fears after a $7 million Trust Wallet hack. He confirmed that user funds remain safe and pledged full reimbursement. The incident has renewed concerns about wallet security as crypto hacks continue to rise across the industry.
$7M Trust Wallet Hack: CZ Confirms Funds Are Safe
Changpeng Zhao, widely known as CZ, addressed the Trust Wallet hack through a public post on X. He confirmed that attackers drained about $7 million. However, he stressed that Trust Wallet will fully cover the losses. He also reassured users that their funds remain SAFU.
CZ explained that the issue links to a compromised browser extension version. Hackers managed to submit a malicious update. As a result, the team initiated an internal investigation to identify the source of the breach. Meanwhile, security teams continue to assess how the approval process failed.
Trust Wallet later confirmed that only the Browser Extension version 2.68 was affected. The team urged affected users to update immediately to version 2.69. They also clarified that mobile users and other extension versions remain unaffected. This distinction helped limit panic across the wider user base.
We’ve identified a security incident affecting Trust Wallet Browser Extension version 2.68 only. Users with Browser Extension 2.68 should disable and upgrade to 2.69.
Please refer to the official Chrome Webstore link here: https://t.co/V3vMq31TKb
Please note: Mobile-only users…
— Trust Wallet (@TrustWallet) December 25, 2025
Rising Crypto Hacks Put Industry Security Under Pressure
The Trust Wallet incident adds to a growing list of crypto security breaches this year. According to Chainalysis, total crypto losses in 2025 have reached $3.14 billion. That figure highlights persistent weaknesses in platform security and user protection.
One major contributor came from the Bybit exchange hack. Attackers stole nearly $1.5 billion in a single event. That breach alone accounted for roughly 44% of total losses this year. Investigators later linked several attacks to North Korean hacking groups.
Other incidents also surfaced in recent months. Upbit reported a separate breach that led to $1.77 million in losses. Together, these events show a troubling trend. Even large platforms remain vulnerable despite heavy investments in security.
Industry leaders continue to call for stronger safeguards. OKX founder Star Xu described the Trust Wallet hack as a wake-up call. He noted that security demands constant improvement and oversight. Many experts now urge tighter update controls and faster response systems.
Despite the setback, Trust Wallet’s quick response helped restore some confidence. Covering losses reduced user exposure. Still, the broader market remains cautious as attacks grow more frequent and sophisticated.
#blockchain #crypto, #decentralized, #distributed, #ledger
