Trust Wallet Initiates $7 Million Compensation Process After Chrome Extension Hack
Trust Wallet, a popular cryptocurrency wallet provider, has launched a formal compensation process for users affected by a security incident related to its Chrome browser extension. The incident, which occurred due to a malicious code embedded in a recent update, led to the exposure of wallet seed phrases and the loss of millions of dollars in cryptocurrency holdings.
The company announced on Friday that affected users can now submit claims through an official support form hosted on Trust Wallet’s portal. The claims process requires users to provide basic identifying information, including their email address and country of residence, in addition to compromised wallet addresses, suspected attacker addresses, and relevant transaction hashes.
Trust Wallet has prioritized reviewing all submissions and is committed to compensating any verified victim of the incident. The company’s support team is working diligently to ensure accuracy and security, and users can expect ongoing updates as the process progresses.
Security Incident Update and Compensation Process
In a statement issued on December 26th, Trust Wallet provided an update on the security incident and the compensation process. The company tweeted: “Security Incident Update Trust Wallet Browser Extension v2.68: Compensation Process. To begin the compensation process, affected users should please fill out this form: https://t.co/xlBLrL6kMj to help us process your case.” The support team has also warned users to remain vigilant against scams, noting an increase in fake compensation forms, fake support accounts, and unsolicited direct messages being spread on Telegram and other platforms.
According to blockchain investigator ZachXBT, the number of victims rose to hundreds within hours, with more than $6 million being diverted across multiple blockchains, including Bitcoin, Solana, and EVM-compatible networks. Several users reported that their wallets were emptied within minutes, with one account on Twitter warning that simply importing a seed phrase into the extension triggered an instant wallet drain.
How the Chrome Extension Update Turned into a Wallet Heist
Investigators and users reported that the malicious extension appeared legitimate when installed through Chrome’s normal update process. However, the embedded code allowed attackers to extract users’ recovery phrases, providing instant access to their funds. Browser extensions typically work with elevated privileges, granting access to web pages, storage, and browsing data, making them a powerful target for attackers if misused.
Trust Wallet said mobile app users and users of other versions of the browser extension were not affected. The Chrome extension itself has about a million users, according to the Web Store listing. In a separate post, Changpeng Zhao, the founder of Binance, which acquired Trust Wallet in 2018, confirmed that all proven losses would be covered. Zhao estimated the total amount affected at about $7 million and said users’ funds would be refunded.
Source: Chainalysis
Personal wallet compromises have steadily increased in recent years, rising from just over 7% of stolen value in 2022 to more than a third in 2025, excluding the Bybit attack. Although centralized platforms are less likely to be compromised, there have also been increasing losses associated with private key breaches.
For more information on the Trust Wallet security incident and compensation process, please visit https://cryptonews.com/news/trust-wallet-7m-chrome-extension-hack/
