Headline: Trust Wallet Faces Flood of Nearly 5,000 Compensation Claims Amid Ongoing Hack Verification Translation: Trust Wallet Faces Flood of Nearly 5,000 Compensation Claims Amid Ongoing Hack Verification

The Trust Wallet team has moved on to the user verification stage for those affected by the recent hack of the wallet’s browser extension. Project lead Eowyn Chen reported an unexpectedly high number of reimbursement claims.

The company has identified 2,596 compromised addresses; however, claims for compensation have already approached 5,000. This suggests a significant rate of duplicates or fraudulent attempts.

According to Chen, accurately verifying wallet ownership is crucial for returning funds to their rightful owners. The developers are cross-referencing data from various sources to filter out fraudulent claims. The company is prioritizing the accuracy of the verification process over the speed of payouts.

The attack on the desktop version of Trust Wallet occurred on December 26, resulting in the loss of $7 million in assets. Former Binance CEO Changpeng Zhao assured that the project team would fully reimburse the losses.

On-chain investigator ZachXBT speculated that the recent Chrome wallet update might have been a contributing factor. Platform representatives have yet to confirm this theory as an internal investigation continues.

As Trust Wallet explores these hypotheses, Coinbase CEO Brian Armstrong has reported the actual arrest of an insider. Police in India detained a former support agent of the exchange.

In May, hackers bribed company staff to steal customer personal data and demanded a ransom of $20 million. Coinbase estimated the potential costs of addressing the attack at $400 million.

Armstrong declared a «zero tolerance» policy for employee misconduct and pledged to hold the perpetrators accountable in partnership with law enforcement.

“Minus one, and others are next in line,” summarized the Coinbase CEO.

It’s worth noting that since the beginning of the year, hackers have stolen cryptocurrencies worth over $3.4 billion, according to Chainalysis.