cryptojournalist
On Dec. 21, Trust Wallet users reported a glitch causing their crypto balances to disappear and reappear. Many took to social media, expressing frustration and fear over potential losses.
Issue Resolved Quickly
The glitch affected tokens like BNB and Trust Wallet Token (TWT), along with others. Trust Wallet assured users their funds were safe and resolved the issue by 8:05 am UTC, stating:
“Hey Trust Fam, no more glitches! The issue has been resolved and everything should be working properly now. Thanks for your understanding.”
Rising Anxiety Over Crypto Security
Though this incident was a technical error, user panic reflected broader concerns about crypto security. Hacks and thefts in the industry have fueled fear and uncertainty among investors.
Crypto Hacks in 2024
Chainalysis reported $2.2 billion stolen in 2024 across 303 incidents, with a 1,000% increase in centralized finance (CeFi) breaches.
Major Hacks:
WazirX hack: $235 million lost.
DMM hack: $305 million in Bitcoin stolen.
North Korean hackers were responsible for $1.3 billion of the stolen funds, making up 61% of total losses.
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