Binance founder Changpeng Zhao (CZ) has assured users that the Trust Wallet team will fully cover losses stemming from the recent security breach that saw hackers drain roughly $7 million in digital assets.
The incident has reignited discussions around wallet security, user protection, and the responsibility of crypto platforms when exploits occur.
CZ Responds Swiftly to Trust Wallet Incident
Changpeng Zhao revealed this information in an X post on December 26, 2025, shortly after the hack, which took place on December 25. According to CZ, users’ funds are SAFU (Secure Asset Fund for Users), but the founder apologized for any inconveniences caused by the exploit. He added that the team is working diligently to identify the cause of the breach.
Meanwhile, CZ’s public remarks come shortly after the Trust Wallet team publicly acknowledged the security incident in an X post. According to the team, a vulnerability was discovered in version 2.68 of the Trust Wallet Chrome browser extension, urging users to upgrade to version 2.69 promptly. Users who have not yet upgraded should refrain from opening their wallets.
However, the team added that mobile-only users and all other browser extension versions were not affected. Thus, while the total loss is estimated at around $7 million, Trust Wallet clarified that only a small fraction of its user base was impacted.
Inside the $7M Trust Wallet Hack: What Happened
According to a community alert by on-chain sleuth Zach XBT on Telegram, affected wallets recorded a high rate of transfers during the exploit. Further, the blockchain investigator noted that the hack coincided with a fresh Trust Wallet Chrome extension update.
Meanwhile, blockchain security firm PeckshieldAlert has, in a recent X post, revealed the movement of the stolen funds. According to the firm, over $6 million of users’ funds in cryptocurrency was stolen and spread across various cryptocurrencies, including Bitcoin, Ethereum, BNB, and Solana.
However, in a surprising turn of events, the hacker transferred over $4 million from the stolen funds to three centralized crypto exchanges. The hacker transferred $3.3 million to ChangeNOW, $340,000 to FixedFloat, and $447,000 to Kucoin. However, $2.8 million remains in the hacker’s wallet.
Community Reaction and Broader Security Implications
The crypto community’s response has been mixed. Many users praised CZ’s decision to offer full compensation, calling it a strong show of leadership and accountability. Others, however, questioned whether centralized intervention should extend to self-custody products, warning it could blur the lines of user responsibility.
Meanwhile, this incident adds to a growing list of wallet-related exploits in 2025, underscoring the importance of user education, smart contract awareness, and proactive security practices. CoinRemark had earlier reported that North Korea-linked hackers have stolen over $2 billion in Ethereum and Solana this year.
As investigations continue, the Trust Wallet hack serves as a reminder that even non-custodial solutions are not immune to sophisticated attacks, making vigilance essential for both platforms and users alike.
The CoinRemark Team
