The cryptocurrency wallet provider Trust Wallet has announced the successful resolution of the issue that caused users' token balances to disappear and then reappear, causing inconvenience for users.
On December 21, Trust Wallet users reflected on social media about their cryptocurrency balances disappearing unusually. One user on X reported that their balance sometimes appeared and then vanished again, while another member shared that they were nearly panicked when they saw their balance was gone.
Reports of Trust Wallet's issue | Source: X
At 13:45, the wallet provider announced that it had identified the issue related to BNB and Trust Wallet (TWT) balances. The company later confirmed that other tokens were also affected by this issue. Nevertheless, Trust Wallet reassured users that their assets were still safe.
By 15:05, Trust Wallet posted an update stating that the issue had been resolved.
"Hello Trust Fam, there are no more issues! The problem has been fixed and everything is back to normal. Thank you for your patience and understanding," the company said in the announcement.
Although the Trust Wallet issue was merely a technical glitch, some users were understandably worried that their wallets had been completely drained. This concern may stem from a general apprehension about security issues in the cryptocurrency space, as billions of dollars have been stolen in cyberattacks.
As Bitcoin Magazine reported, in just 2024, hackers stole $2.3 billion in cryptocurrency through 303 security incidents.
The centralized finance (CeFi) sector also faced many major challenges this year, with a record 1,000% increase in the number of security incidents compared to the previous year. Notable attacks include the WazirX hack in July and the DMM hack in May. The WazirX attack caused users to lose $235 million in cryptocurrency, while the DMM hack resulted in damages of up to $305 million in Bitcoin.
The increase in cryptocurrency hacks in 2024 is largely believed to be linked to hacker groups backed by North Korea. Chainalysis reported that North Korean hackers stole over $1.3 billion this year through 47 incidents, accounting for about 61% of the total amount stolen in 2024.
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