Trust Wallet is verifying wallets after a Christmas Day exploit, identifying 2,596 affected wallets but receiving nearly 5,000 claims. Accuracy is crucial to ensure funds reach the right owners, with the company prioritizing accuracy over speed in the reimbursement process.

A targeted attack on Trust Wallet’s browser extension led to $7 million in losses, fully covered by Binance, its parent company. Cybersecurity firm SlowMist raised concerns about insider involvement, as the attacker showed deep familiarity with the source code. The company is conducting a forensic investigation to uncover the extent of the breach.

Read more at Cointelegraph: Trust Wallet Faces False Reimbursement Claims Following $7M Hack