Trust Wallet, a cryptocurrency storage provider endorsed by Binance, faced a temporary removal from the Google Play Store on April 29, sparking concerns among users and investors.
The incident led to a 5% decline in Trust Wallet’s token, TWT, as speculations arose regarding the reason behind Google’s suspension of the app.
Some speculated that the removal might be linked to a recent FBI circular cautioning against the use of non-KYC platforms and solutions.
Amidst the confusion, a spokesperson for the self-custodial wallet company explained that the removal was due to Google’s policies, to which Trust Wallet had already submitted an appeal several weeks prior.
The spokesperson reassured users that the issue was unrelated to the FBI notice.
Trust Wallet’s app was reinstated on the Google Play Store shortly after, but TWT’s price struggled to recover from the initial drop.
While the Google Play Store incident appears disconnected from the FBI’s announcement, Trust Wallet continues to grapple with security concerns.
Earlier in the month, the wallet provider warned Apple users about a zero-day vulnerability found in the default iOS messenger app, advising users to deactivate iMessage until a fix was deployed.
Additionally, in February, the National Institute of Standards and Technology (NIST) initiated an investigation into a security flaw detected in Trust Wallet’s iOS application.
Although the NIST did not confirm if the flaw was related to iMessage, the investigation followed a breach of a third-party provider used by Trust Wallet, although no user data was compromised in the breach.
