The cryptocurrency wallet provider Trust Wallet has announced the successful resolution of the issue that caused users' token balances to disappear and reappear, causing inconvenience for users.
On December 21, Trust Wallet users reported on social media that their cryptocurrency balances had disappeared unusually. One user on X mentioned that their balance sometimes appeared and then disappeared again, while another member shared that they were almost panicking when they saw their balance was gone.
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 incident. Nevertheless, Trust Wallet assured users that their assets were still safe.
By 15:05, Trust Wallet posted an update, stating that the incident had been resolved.
“Hello Trust Fam, there are no more issues! The incident has been resolved and everything is back to normal. Thank you for your patience and understanding,” the company said in a statement.
Although the Trust Wallet incident was just a technical glitch, some users couldn't help but worry that their wallets had been drained. This concern may stem from general worries about security issues in the cryptocurrency space, where billions of dollars have been stolen in cyberattacks.
The centralized finance (CeFi) sector also faced significant challenges this year, with a record increase of 1,000% 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 resulted in users losing $235 million in cryptocurrency, while the DMM hack caused damages of up to $305 million in Bitcoin.
The increase in cryptocurrency hacks in 2024 is largely attributed to North Korean-backed hacker groups. Chainalysis reported that North Korean hackers stole over $1.3 billion this year across 47 incidents, accounting for about 61% of the total amount stolen in 2024.
