Thomas Daniels
The cryptocurrency storage service endorsed by Binance, Trust Wallet, was reinstated on the Google Play Store after a brief removal on April 29. The removal led to a 5% drop in the value of Trust Wallet’s token, TWT, as users grappled with the unexpected suspension by Google, with no prior public notification. Market watchers speculated that the action might be linked to a recent FBI advisory cautioning against platforms lacking stringent KYC procedures.
In the midst of rampant speculation on social platforms, a representative from Trust Wallet addressed the situation via an email response to inquiries from crypto.news. The spokesperson stated that the issue pertained to adherence to Google’s policies, and confirmed that the FBI’s advisory had not directly influenced Google’s initial decision to remove the app. Despite efforts to rectify the situation swiftly, the value of TWT had not fully recovered at the time of reporting, according to data from CoinMarketCap.
The spokesperson added, “We are pleased to announce that the Trust Wallet app is once again accessible on the Google Play Store, following our successful appeal to Google several weeks ago.”
Despite the resolution, Trust Wallet continues to navigate security challenges. Earlier in the month, the company alerted Apple users to a significant security vulnerability within the default iOS messaging app, recommending that users disable iMessage until a fix could be applied. Additionally, the National Institute of Standards and Technology (NIST), a subsidiary of the U.S. Department of Commerce, disclosed its investigation into another security flaw identified in Trust Wallet’s iOS app earlier this year. The inquiry followed shortly after an unrelated security breach at a third-party service provider utilized by Trust Wallet, which fortunately did not result in any compromise of user data.
