• Security researchers discovered a vulnerability in Trust Wallet’s WebAssembly feature (WASM) which allowed attackers to execute malicious code on user devices.
• The team immediately patched the vulnerability and reimbursed users who lost value due to two successful exploits.
• The Trust Wallet team recommends users update their apps, create strong passwords, enable 2-factor authentication, and avoid disclosing sensitive information.
Vulnerability Found in Trust Wallet’s WebAssembly Feature
A security researcher recently discovered a vulnerability in Trust Wallet’s WebAssembly feature (WASM), which may have allowed attackers to execute malicious code directly on user devices. After investigation, the team took immediate action to mitigate the risk and released a security update for the app. Two exploits managed to steal the value of $170,000 USD from affected addresses before the patch was completed.
Trust Wallet Recommends Users Take Precautions
In response to this incident, Trust Wallet has recommended that all users update their app versions and take precautionary measures such as creating strong passwords and enabling 2-factor authentication (2FA). They also urge users not to disclose their recovery phrases or private keys with anyone else. Finally, they suggest only downloading the app from trusted sources such as the official website or app store.
Trust Wallet Reimburses Affected Users
Fortunately, no losses or thefts are reported as a result of this incident. Although affected users may be alarmed by this news, Trust Wallet has assured them that they will be reimbursed for any losses incurred due to these exploits. A reimbursement process has been established for these users and those affected have been asked to move their balances from any vulnerable address as soon as possible.
Trust Wallet Committed To User Safety
The TrustWallet team is committed to ensuring that its user’s personal information and assets remain safe at all times. In order to further protect themselves against future incidents like this one they are continuing investigations into what happened and implementing additional security measures accordingly.
Conclusion
It is important that all users of TrustWallet stay vigilant when it comes to protecting their personal information and assets by taking basic security precautions such as updating their apps regularly and creating strong passwords with two-factor authentication enabled where possible.
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