Binance-owned Trust Wallet hack update: Who is at risk, what went wrong and what steps being taken to offset impact

A malicious security breach struck Binance-owned Trust Wallet on Thursday, leading to losses of more than $7 million as funds were drained from affected user wallets on the platform.

Just two days later, on Saturday, Trust Wallet CEO Eowyn Chen issued a detailed post on social media platform (formerly Twitter), outlining the impact of the incident, the measures being taken to contain the hack, and what the company has established so far about the attack.