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Trust Wallet Issues Warning About Zero-Day Exploit Targeting iOS Users

Jimmy Aki
Last updated: | 1 min read
An individual scrolling through his phone to check for trust wallet app

Popular crypto wallet provider Trust Wallet disclosed on April 15 that it received “credible intel” about a high-risk zero-day exploit being sold on the Dark Web to target iOS users.

According to the software developer, this flaw could allow hackers to gain unauthorized access to users’ personal data.

Trust Wallet Reports Personal Information Sale on Dark Web

Trust Wallet shared its discovery in an X post, explaining the dangers of the zero-day exploit targeted at iMessage.

A zero-day exploit is a cyber attack that takes advantage of a previously unknown vulnerability in software. These exploits can go undetected for an extended period and are used to gain unauthorized access to systems and steal data. As detailed in the X post, iOS users and the entire crypto ecosystem could be at risk.

Trust Wallet CEO Eowyn Chen also shared a screenshot on X that reportedly depicts a zero-day exploit for sale on the Dark Web for $2 million.

Trust Wallet
Source: Eowyn Chen

Neither the crypto wallet provider nor its CEO disclosed where this information came from or if there were any casualties, however.

To address the issue, Trust Wallet advised users to disable iPhone iMessage until Apple fixes the gap.

Despite Trust Wallet’s assertion, some industry experts expressed skepticism about the source’s credibility.

Pseudonymous blockchain researcher Beau questioned the authenticity of the evidence, suggesting that it only showed a claim of having an exploit rather than concrete proof.

Trust Wallet clarified that the intel came from its “security team and partners” who were responsible for ongoing threat monitoring.

Apple’s Crypto Criticism Continues

Trust Wallet’s security alert follows a series of threats discovered on the Apple App Store.

Fake versions of Rabby Wallet and the Unisat Wallet were uncovered in the store, although the duration of their availability in the store remains unknown.

In addition, the National Institute of Standards and Technology (NIST) identified a vulnerability in the iOS version of the Binance Trust Wallet application in February. They warned that the vulnerability could allow bad actors to access and divert funds from users’ cryptocurrency wallets.

As a precaution, industry figures like Errata Security CEO Robert Graham advised users with large crypto holdings to transfer their assets away from iOS devices.