New Delhi, Dec. 27 -- 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.

"This is an ongoing investigation, so I'll focus on confirmed facts and updates, highly likely hypothesis, and what we're doing to stop loss for users," she noted in the X post.

According to Chen, the investigation so far has confirmed that this security incident ...