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An anonymous crypto security researcher known as Daniel discovered a website impersonating Trust Wallet, advertising a payment card with suspiciously generous terms. Trust Wallet confirmed it has no affiliation with the site.
The site promises users who secure the “best” card a spending limit of $100,000, cashback of up to 8%, no Know Your Customer (KYC) requirements, no currency exchange fees, support for Apple Pay and Google Pay, and a physical metal card. The advertisement claims the crypto card is issued for an incredibly low price of just $1.
The creators of the fake site claimed to hold licenses in four jurisdictions: the UK, the Netherlands, Canada, and Hong Kong. Users were offered three card tiers—Lite, Signature, and Metal—featuring the Trust Wallet logo. The basic Lite tier promised up to 3% cashback, the Signature tier offered up to 5% cashback with no currency exchange fees and priority support, while the Metal tier provided the best conditions, including 8% cashback and access to airport lounges with 24-hour concierge services.
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According to Daniel, the most dangerous aspect of the scheme was the requirement to connect a crypto wallet to the platform.
James Bro, a representative of Trust Wallet’s security team, stated that the site does not belong to the company and is not affiliated with it. Trust Wallet urged users not to connect their wallets to the advertised platform and not to approve requests for the payment card. It remains unknown whether there are victims of the fake site or who is operating it.
Last year, Trust Wallet wallet owners lost more than $6 million due to a hack involving one of the browser extension versions. Cybersecurity specialists from Koi Security reported malicious extensions in the Mozilla Firefox browser directory that mimicked Trust Wallet to steal cryptocurrency.
