Shortly after the news broke, Trust Wallet’s native token TWT plunged by over 5%, according to data from CoinGecko. Trust Wallet, established in 2017 by Viktor Radchenko, provides users with non-custodial storage services for cryptocurrency across various blockchain networks.
The application was later acquired by the crypto exchange Binance in 2018, though the financial side of the deal remains undisclosed thus far. It’s unclear if Google’s decision to remove Trust Wallet is connected to this warning, as other non-custodial crypto wallets remain available on Google Play at the time of writing.