Trust Wallet responded to community discussion surrounding alleged vulnerabilities found in early versions of the wallet back in 2018.
A statement made through the platform’s official Chinese channels on its X (formerly Twitter) account said that the vulnerability in question was caused by a third-party open source random number library that was widely used across the industry at the time.
Trust Wallet claims that this vulnerability was fixed in July 2018 and the fix is publicly documented in the Wallet Core library. Approximately 10,000 users were affected in the initial stages, but all users have been notified, assets have been safely moved, and no losses have been reported, the statement said.
The company says all new wallets created after July 2018 are not affected. The company also said that Trust Wallet currently uses audited cryptographic libraries and high-security random number algorithms, and continuously strengthens its security through independent security audits and a bug bounty program.
The Trust Wallet team also announced that it aims to raise user awareness about seed phrase management and random number security principles as part of its upcoming “Wallet Security Awareness Series.”
*This is not investment advice.
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