Trust Wallet Announces Fix for Vulnerability in Browser Extension Program

04/24/2023 10:39 • Blockchain Briefs • 88 views

According to reports, Trust Wallet recently announced the repair of a vulnerability that will affect users who created digital wallets using the project’s browser extension program from November 13 to November 23 last year. This fix only applies to browser wallets created after November 23rd. Trust Wallet stated in a blog article that in order to overcome this vulnerability, users must migrate their assets from the affected wallet address to a new, unaffected wallet address. In this situation, we have taken all possible measures to notify users and help them reduce the risk of potential attacks.

Trust Wallet: Currently, there is still a potential risk of attack on old wallets

Trust Wallet, a popular digital wallet used for storing cryptocurrencies, recently published a blog article addressing a vulnerability that affects users who created wallets using the project’s browser extension program between November 13th and 23rd of last year. The Trust Wallet team has since fixed the vulnerability, but only for newly created wallets.

What is Trust Wallet?

Trust Wallet is a decentralized mobile wallet application used for storing and managing cryptocurrencies. The wallet supports various digital currencies, including Bitcoin, Ethereum, and Binance Coin. Trust Wallet is widely known for its high level of security, privacy, and user-friendliness.

Vulnerability in the Browser Extension Program

According to reports, Trust Wallet’s browser extension program was infiltrated by an attacker between November 13th and 23rd of last year. The hacker gained access to the extension’s codebase and inserted malicious code, which allowed them to gather private user data and cryptocurrency funds.

Trust Wallet’s Response

The Trust Wallet team acted promptly to repair the vulnerability and take necessary measures to protect its user’s funds. Trust Wallet has notified users of the potential attack and advised them to migrate their assets from affected wallet addresses to new, unaffected addresses.

Migrating Funds to a New Wallet Address

Users can migrate their assets from the affected wallet address to a new, unaffected wallet address by following the instructions provided by Trust Wallet. The process includes creating a new wallet, exporting the private key and importing it to the new wallet, and then transferring all funds from the old wallet to the new wallet.

Precautionary Measures

Trust Wallet has assured its users that it has taken all necessary measures to ensure the security of their wallets. However, users are advised to take precautionary measures, such as updating their Trust Wallet to the latest version, enabling two-factor authentication, and storing their private keys offline.

Conclusion

Trust Wallet has taken swift action to address the vulnerability in its browser extension program and protect its users’ funds. The Trust Wallet team has notified its users and provided instructions on how to migrate their assets to a new, unaffected wallet address.

FAQs

Q1. What is Trust Wallet?
Trust Wallet is a decentralized mobile wallet application used for storing and managing cryptocurrencies.
Q2. What is the vulnerability in the browser extension program?
Trust Wallet’s browser extension program was infiltrated by an attacker between November 13th and 23rd of last year, and malicious code was inserted, which allowed them to gather private user data and cryptocurrency funds.
Q3. How can users migrate their assets to a new wallet address?
Users can migrate their assets from the affected wallet address to a new, unaffected wallet address by following the instructions provided by Trust Wallet, which includes creating a new wallet, exporting the private key, and transferring all funds from the old wallet to the new wallet.

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