Trust Wallet Hack Update: CZ Speaks Out on $7M Loss, Promises Support

In the wake of the $7 million Trust Wallet hack, Binance founder Changpeng Zhao has assured users that their funds are safe. CZ added that Trust Wallet will cover the losses incurred in the security breach.

$7M Trust Wallet Hack: Funds Are SAFU, Says CZ

Binance founder and ex-CEO Changpeng Zhao, affectionately known as CZ, has weighed in on the recent Trust Wallet hack. Assuring users about the platform’s further proceedings, CZ shared an X post that read,

“So far, $7m affected by this hack. Trust Wallet will cover. User funds are SAFU. Appreciate your understanding for any inconveniences caused. The team is still investigating how hackers were able to submit a new version.”

Notably, CZ’s post comes in response to the Trust Wallet team’s official acknowledgement of the security breach. As CoinGape reported recently, Trust Wallet faced a security breach on December 25, with about $7 million lost in multiple cryptocurrencies like Bitcoin, Ethereum, and BNB. This comes on the heels of an initial vulnerability uncovered in the Browser Extension 2.68 version on December 24.

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

Subsequently, the team identified that the Trust Wallet hack has affected only the Browser Extension 2.68 version. In an X post, the team urged the extension 2.68 users to immediately upgrade to the 2.69 version. They added, “Mobile-only users and all other browser extension versions are not impacted.”

Unveiling Growing List of Security Incidents

Significantly, the Trust Wallet hack is just one incident among the growing number of crypto hacks. In 2025, crypto hacks have hit a staggering $3.14 billion, according to a recent Chainalysis report. The massive Bybit exchange hack alone resulted in a $1.5 billion theft, representing 44% of the total losses. As CoinGape reported, the notorious North Korean hackers are linked to $2 billion in losses from security breaches in 2025.

In addition, a wave of security incidents has hit the market in the last quarter, including the Trust Wallet hack. One such incident is the Upbit hack, which resulted in the loss of $1.77 million.  

While the $3.14 billion crypto hacks recorded in 2025 represent a significant surge from last year’s $3.38 billion, it indicates the industry’s vulnerable situation. OKX founder Star Xu reinforces this critical notion, identifying the Trust Wallet hack as just a reminder. He said, “It’s unbelievable — and a reminder to the entire industry that security is never ‘done.’”