Trust Wallet Restored on Google Play After Suspension Over Non-Compliance

Trust Wallet, a popular cryptocurrency storage service endorsed by Binance, has been reinstated on the Google Play Store after a brief removal, leading to a 5% drop in the value of its TWT token. The removal was attributed to adherence issues with Google's policies, but not directly related to an FBI advisory on platforms lacking KYC procedures. Despite the resolution, Trust Wallet continues to face security challenges, with recent vulnerabilities in the iOS messaging app and an ongoing investigation by NIST into another security flaw.

Trust Wallet Reinstated on Google Play Store After Brief Suspension

Trust Wallet, a cryptocurrency storage service endorsed by Binance, has been reinstated on the Google Play Store following its removal on April 29. The suspension, which was made without prior public notification, prompted a 5% decline in the value of Trust Wallet's token, TWT.

Initial speculation suggested a link between the removal and a recent Federal Bureau of Investigation (FBI) advisory cautioning against platforms lacking stringent Know-Your-Customer (KYC) procedures. However, a Trust Wallet representative clarified via email that the issue stemmed from non-compliance with Google's policies and that the FBI advisory was not a direct factor.

Despite the expedited resolution, TWT's value has not fully rebounded according to data from CoinMarketCap. "We are delighted to announce the restoration of the Trust Wallet app on the Google Play Store after our successful appeal to Google," the spokesperson remarked.

However, the company continues to face security challenges. Earlier this month, Trust Wallet issued an alert to Apple users regarding a major security vulnerability in the default iOS messaging app, urging users to disable iMessage until a patch could be implemented.

Moreover, the National Institute of Standards and Technology (NIST), a division of the U.S. Department of Commerce, has initiated an investigation into a separate security flaw discovered in Trust Wallet's iOS app earlier this year. The inquiry followed an unrelated security incident involving a third-party service provider used by Trust Wallet, which did not result in any user data compromise.

Trust Wallet maintains its commitment to user security and is actively working to address any potential vulnerabilities. The company encourages users to remain vigilant and take appropriate measures to safeguard their digital assets.