The cryptocurrency wallet provider Trust Wallet has announced that it has successfully resolved the issue that caused users' Token balances to disappear and then reappear, causing inconvenience to users.
On December 21, Trust Wallet users reported on social media that their cryptocurrency balances had mysteriously disappeared. One X user said their balance would sometimes appear and then disappear, while another member shared that they were almost in a panic 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 then confirmed that other Tokens were also affected by this incident. However, Trust Wallet assured users that their assets remained safe.
By 15:05, Trust Wallet posted an update, stating that the issue had been resolved.
"Hello Trust Fam, 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 the announcement.
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 the general security issues in the cryptocurrency space, where billions of dollars have been stolen in cyber attacks.
As Bitcoin Magazine reported, in 2024 alone, hackers stole $2.3 Billion in cryptocurrency through 303 security incidents.
Centralized Finance (CeFi) also faced significant challenges this year, with a record 1,000% increase in the number of security incidents compared to the previous year. Prominent 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 a loss of up to $305 Million in BTC.
The increase in cryptocurrency hacks in 2024 is largely attributed 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 around 61% of the total amount stolen in 2024.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.
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According to Cointelegraph
