NIST is probing a vulnerability in the Trust Wallet app for iOS that could let attackers steal funds via mnemonic guessing.

The security flaw has been exploited, with reported losses exceeding $4 million.

NIST has recorded the issue in the CVE database and is assessing the extent of the threat.

Trust Wallet, owned by Binance since 2018, has a history of security breaches, though Binance has not commented on this particular incident.

An external probe revealed over 6,500 wallet mnemonics potentially compromised.

NIST's final evaluation will include a severity score for the vulnerability, which remains unaddressed by Trust Wallet on social media.