7 months ago
Trust Wallet has denied reports that it is nether probe by the US authorities oregon its agencies, according to a Feb. 15 statement.
‘Binance Trust Wallet’ vulnerability
Earlier today, aggregate reports indicated that the National Institute of Standards and Technology (NIST), a US bureau liable for mounting exertion and cybersecurity standards, is investigating a imaginable vulnerability successful the iOS mentation of “Binance Trust Wallet.”
Binance told CryptoSlate that Trust Wallet present operates arsenic a abstracted ineligible entity and is not portion of the Binance group.
The vulnerability, listed successful the CVE database connected Feb. 8, alleged that a peculiar mentation of the Trust Wallet app improperly utilizes the trezor-crypto room to make mnemonic words that tin lone beryllium authenticated astatine the entropy source.
According to NIST, this flaw has already been exploited successful the wild, resulting successful fiscal losses. The bureau stated:
“An attacker tin systematically make mnemonics for each timestamp wrong an applicable timeframe, and nexus them to circumstantial wallet addresses successful bid to bargain funds from those wallets.”
Trust wallet debunks report
In its rebuttal, Trust Wallet claimed that NIST operates a non-profit level and database that allows the nationalist to taxable accusation for reappraisal and see it successful the CVE database.
“The accusation highlighted successful the quality articles did not travel from an authoritative government-led investigation. Instead, the accusation was provided done a submission to a publically accessible, unfastened database, wherever autarkic representatives tin taxable vulnerability reports,” Trust Wallet added.
Regarding the identified vulnerability, Trust Wallet said it had addressed the contented promptly successful July 2018 upon discovery. The steadfast stated that the vulnerability affected a constricted subset of 10,000 downloads, and proactive measures were taken to safeguard users from imaginable risks.
In addition, the steadfast further disputed its accusation successful the July 2023 exploit. Trust Wallet asserted the affected wallets were not exclusive to its level and apt stemmed from assorted sources.
According to the firm, lone 600 retired of implicit 2,000 addresses were traceable successful its system, portion lone a 3rd exhibited the 2018 vulnerability.
“We person precocious assurance that the 2018 Trust Wallet vulnerability was not the root of the July 2023 information breach,” it concluded.
The station Trust Wallet counters probe rumors and vulnerability concerns appeared archetypal connected CryptoSlate.
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