Changpeng Zhao, the founder of Binance and head of YZi Labs, which owns Trust Wallet, addressed the situation and urged users of the browser version 2.68 to immediately disable or uninstall it, followed by installing the updated version 2.69.
The Trust Wallet company promised to compensate for all losses. In response to the news of the hack, the native token TWT temporarily dropped in price by 7%, but soon recovered and is currently trading around 0.83 dollars.
Preliminary data suggests that malicious code was embedded in the browser extension 2.68, which intercepted users' secret phrases during wallet import and transmitted them to the attackers. Changpeng Zhao speculated that the hack may have been carried out by an insider.
