Trust Wallet head Eowyn Chen reported that last week's crypto wallet hack affected over 2,500 accounts. However, she stated that the service received twice as many compensation claims, which is slowing down payouts as it takes time to weed out fraudulent requests.
The Trust Wallet hack occurred on the night of December 26. Developers had previously acknowledged a vulnerability in the browser wallet version 2.68, released an update to version 2.69, and promised to compensate for the damage, which they estimated at $7 million.
"To date, we have identified 2,596 addresses affected by the hack. From this group, we have received about 5,000 claims, indicating a significant number of false or duplicate attempts to access victim compensation," wrote Chen.
The verification of claims is being conducted in parallel with the technical investigation of the incident. Chen noted that this has proven to be a complex task, so processing the requests is taking longer than affected users expected. The priority remains the accurate verification of wallet owners, not speed.
The day before, Chen reported that Google is assisting in the investigation—the crypto wallet team hopes to obtain audit logs (access request logs) from the Chrome browser. Also, the Trust Wallet security service will conduct a detailed check of the devices of employees working remotely.
A week earlier, Chainalysis estimated that the total damage from hackers' actions in 2025 exceeded $3.4 billion. This year, 158,000 cases of personal wallet compromises were recorded with a total damage of $713 million (compared to $1.5 billion the previous year), affecting over 80,000 users.
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