Binance Founder CZ Announces Compensation for Users Affected by Hacked Altcoins!

As we approach the end of 2025, hacking incidents are still ongoing. The latest victim of hackers is Trust Wallet (TWT).

According to blockchain expert ZachXBT, Trust Wallet (TWT) suffered a $7 million loss due to a security vulnerability in its extension.

Trust Wallet confirmed the hack but stated that mobile users and those using other extension versions were not affected.

The company added that its team is actively working to resolve the issue and will share more information as developments occur.

Following the hack, Binance founder CZ announced that Trust Wallet would fully compensate users for the $7 million hack.

CZ stated that user funds were safe and that the incident was currently under investigation, adding that Trust Wallet would cover all losses.

“So far, $7 million has been affected by this attack. TrustWallet will cover this. User funds are safe. Thank you for your understanding regarding any inconvenience caused.”

The team is still investigating how the hackers were able to send out a new version.

Yu Xian, co-founder of blockchain security firm SlowMist, stated that the Trust Wallet hackers began preparing for the attack as early as December 8th: “The attacker started preparations at least on December 8th, successfully placed the backdoor on December 22nd, began money transfers on Christmas Day, and was thus discovered.”

*This is not investment advice.

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