Trust Wallet hack shifts to verification amid surge in false claims

Trust Wallet identified 2,596 affected addresses following its Christmas Day exploit as investigators work to separate real victims from false claims.

Trust Wallet said it has moved into a verification phase after a Christmas Day exploit involving its browser extension, after finding thousands of affected wallets but receiving far more reimbursement claims than expected.

On Monday, Trust Wallet CEO Eowyn Chen said the company had identified 2,596 affected wallet addresses tied to the compromised extension. However, it received nearly 5,000 claims, suggesting a significant amount may be false or duplicate submissions. 

“Because of this, accurate verification of wallet ownership is critical to ensure funds are returned to the right people,” Chen wrote. “Our team is working diligently to verify claims; combining multiple data points to distinguish legitimate victims from malicious actors.”

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