Incident Overview
TrustWallet's Web Extension suffered an exploit, which resulted in a loss of 170,000 $USD.
TrustWallet is a cross-chain wallet. The wallet suffered an exploit on WASM vulnerability. TrustWallet announced a vulnerability affecting new addresses created between November 14-23, 2022 using their Browser Extension. The majority of funds at risk had already been secured by users. However, there were still approximately 88,000 $USD left on affected addresses. TrustWallet urged affected users to move their funds as soon as possible and avoid using addresses provided by others.
The team identified two likely exploits with a total loss of 170,000 $USD. To do right by its users, the project created a reimbursement process for affected individuals to make them whole again.
Incident Report
Protocol Information
What the Attacker Needed to Succeed
Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.
What Auditors Should Check
If you're auditing a protocol with similar architecture to Trust Wallet, these are the critical security checks that could have prevented this incident (April 2023).
- Verify all logic paths related to Other are guarded by proper access controls and input validation
- Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs
Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.
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