Trust Wallet’s in-house software, WebAssembly (WASM), is reportedly affecting wallet addresses on Ethereum and other blockchains. generated through the Trust Wallet browser extension between Nov 14 and Nov 23, 2022.
The issue has been resolved according to Trust Wallet’s Twitter account.
“The problem has been solved. Most of the funds at risk are secured.”
WebAssembly is a computer code format that allows developers to use multiple programming languages to create web applications. Including the language used in the digital wallet. The vulnerability found exists in the main software library of the wallet. It uses the WASM format to facilitate users to create digital wallets within the browser extension.
Over $170,000 of lost funds
Trust Wallet said the vulnerability was immediately addressed, however, it lost over $170,000 in funds due to the hack.
Trust Wallet reiterates that the vulnerability does not affect users using only the mobile app. Trust Wallet imports the wallet into the browser extension using the default seed phrase from the app. Push other wallets or create new wallet addresses via extension before November 14 or after November 23, 2022.
The team has clarified that it has strengthened the security of the wallet product by conducting more frequent security audits and engaging external auditors to assess the security measures.
Trust Wallet said it will process refunds and has created a reimbursement system to remedy affected users. The team further clarified that the issue is unrelated to a recent hack where MyCrypto creator Taylor Monahan claimed over 5,000 ETH ($10 million) was stolen from various wallet users for unknown reasons.
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