Beware, Users of This Cryptocurrency Wallet: Statement Released Following Security Vulnerability Claims

Trust Wallet has responded to community discussions surrounding an alleged vulnerability found in early versions of the wallet dating back to 2018.

In a statement made on the X (former Twitter) account via the platform’s official Chinese channel, it was stated that the vulnerability in question was caused by a third-party open-source random number library that was widely used throughout the industry at the time.

Trust Wallet maintains that the vulnerability was fixed in July 2018 and that the fix is publicly documented in the Wallet Core library. According to the statement, approximately 10,000 early-stage users were affected, but all users were notified, their assets were moved safely, and no losses were reported.

The company stated that all new wallets created since July 2018 are unaffected. It was also stated that Trust Wallet currently uses audited cryptographic libraries and high-security random number algorithms, and continuously strengthens security through independent security audits and bug bounty programs.

The Trust Wallet team also announced that they aim to raise awareness of users about seed phrase management and random number security principles as part of the soon-to-be-launched “Wallet Security Awareness Series.”

*This is not investment advice.