Following a reported security exploit on Christmas Day, Trust Wallet will cover the $7 million in losses incurred by users. According to cybersecurity firm SlowMist, the malicious Trust Wallet extension may have been exporting users’ personal information, suggesting possible insider involvement. The development follows reports of a hack impacting users of the wallet, with the company taking steps to address the situation. The incident highlights ongoing security challenges in the cryptocurrency space.

Following a reported security exploit on Christmas Day, Trust Wallet will cover the $7 million in losses incurred by users. According to cybersecurity firm SlowMist, the malicious Trust Wallet extension may have been exporting users’ personal information, suggesting possible insider involvement. The development follows reports of a hack impacting users of the wallet, with the company taking steps to address the situation. The incident highlights ongoing security challenges in the cryptocurrency space.