Trust Wallet, Binance’s non-custodial wallet, suffered a security breach that led to a loss reported at about $7 million, according to Binance founder CZ. The incident is described as a breach involving unauthorized transfers from the wallet. Security teams are assessing the method and scope of the breach.
This event underscores the risk profile of self-custody solutions in the crypto space, even as custodial platforms face scrutiny. Binance has not disclosed additional details beyond CZ’s confirmation, and guidance to users remains under review.
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