Venues / Trust Wallet

Is Trust Wallet legit?

The checklist

Custody: who holds your money

Self-custodial; no KYC needed for wallet features. Swaps are routed through third-party DEXs and swap providers.

Who backs Trust Wallet

• Binance (acquisition, July 2018; price not disclosed in source) (2018-07) source

Incidents

• 2025-12-24: Malicious browser extension v2.68 drained about $8.5M. Attackers used a Chrome Web Store API key and GitHub secrets exposed in the November 2025 Sha1-Hulud npm supply-chain attack to publish a backdoored extension v2.68 outside Trust Wallet's release process. It exfiltrated wallet data from users who logged in between Dec 24 and 26. Trust Wallet identified 2,520 drained addresses and about $8.5M in assets linked to 17 attacker addresses. Mobile apps were not affected. Clean v2.69 was released, and Trust Wallet said it would voluntarily reimburse affected users. source
• 2023-07: Weak mnemonic generation in 2018 iOS app exploited (CVE-2024-23660). An early iOS Trust Wallet build misused a crypto library so that device time was the only entropy source for recovery phrases, letting attackers regenerate phrases and steal funds; NVD says it was exploited in the wild in July 2023. The CVE was published February 2024. source

Real downsides

• December 2025 browser-extension compromise (v2.68) drained about $8.5M from 2,520 addresses
• The swap fee is built into the exchange rate, so the per-swap fee is less visible than a separate line item
• Leverage claims conflict across official pages (100x vs 200x), and there is no published perps fee schedule

Can you use it where you live?

Trust Wallet's terms bar users who are sanctioned or located in or resident of comprehensively sanctioned jurisdictions (such as Cuba, Iran, North Korea and Syria) and say the services may only be used where legal; they do not list the US, UK or EU as restricted, but also do not state which features (swaps, perps, prediction markets) are offered in which country. Its comparison pages call it 'available globally'. (source)

We report what the venue's own terms say. Don't use a VPN to get around restrictions; venues can freeze accounts that do.

How to use Trust Wallet without getting scammed

• Only open trustwallet.com — fake lookalike sites and "support" DMs are the most common way people lose funds on any trading venue.
• Never share a seed phrase or private key. No real support agent will ask for one.
• A referral code only changes your fee and who gets a share of it. It never needs your keys.
• Treat every new memecoin as able to go to zero. A legit venue does not make the coins on it safe.

Comparing options? See the full Trust Wallet sheet or Backpack, Rabby, Phantom.