Trust Wallet Faces False Reimbursement Claims Following $7M Hack

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Trust Wallet has moved into a verification phase after a Christmas Day exploit involving its browser extension; while thousands of wallets have been identified, the company has received far more reimbursement claims than expected.

On Monday, Trust Wallet CEO Eowyn Chen said the company had identified 2,596 wallet addresses tied to the compromised extension. Still, it has received almost 5,000 claims, suggesting a significant amount may be false or duplicate submissions. 

“Because of this, accurate verification of wallet ownership is critical to…



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Trust Wallet Faces False Reimbursement Claims Following $7M Hack


Trust Wallet has moved into a verification phase after a Christmas Day exploit involving its browser extension; while thousands of wallets have been identified, the company has received far more reimbursement claims than expected.

On Monday, Trust Wallet CEO Eowyn Chen said the company had identified 2,596 wallet addresses tied to the compromised extension. Still, it has received almost 5,000 claims, suggesting a significant amount may be false or duplicate submissions. 

“Because of this, accurate verification of wallet ownership is critical to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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