Trust Wallet Resolves Glitch Causing Disappearing Balances Amid Rising Crypto Security Concerns

Trust Wallet, a popular crypto wallet provider, has addressed a frustrating glitch that led to users’ crypto balances intermittently disappearing and reappearing, causing widespread concern within its community. The issue was first reported by users on December 21, 2024, who took to social media platforms like X to share their experiences. Some reported that their balances would suddenly vanish, only to return moments later, while others expressed their distress over the glitch, with one user even sharing how they nearly had a heart attack after seeing their funds disappear.
At 6:45 AM UTC, Trust Wallet acknowledged the issue, confirming that it was aware of disruptions involving balances for BNB and Trust Wallet (TWT) tokens. As the day progressed, the company clarified that other tokens had also been affected by the glitch. Despite the technical hiccup, Trust Wallet reassured users that their funds were safe and that the issue was isolated to the display of balances.
By 8:05 AM UTC, the wallet provider posted an update, informing users that the issue had been fully resolved. "Hey Trust Fam, no more glitches! The issue has been resolved and everything should be working properly now. Thanks for your understanding," the company wrote, bringing relief to anxious users.
While the Trust Wallet glitch was a technical issue, it comes at a time of heightened awareness regarding crypto security breaches. The rising number of hacking incidents in the crypto space has caused widespread concern about the safety of digital assets. According to data from Chainalysis, hackers stole a staggering $2.2 billion in cryptocurrency in 2024 alone, across 303 security incidents.
The centralized finance (CeFi) sector, in particular, has faced a sharp increase in breaches, with incidents rising by 1,000% compared to the previous year. Notable hacks include the WazirX breach in July, which resulted in the theft of $235 million, and the DMM hack in May, which saw $305 million worth of Bitcoin stolen.
North Korean hackers have been particularly active in 2024, accounting for a significant portion of the stolen funds. Chainalysis reported that hackers linked to the Democratic People's Republic of Korea (DPRK) were responsible for over $1.3 billion in stolen crypto across 47 incidents—making up approximately 61% of the total funds stolen this year.
While the Trust Wallet glitch was unrelated to hacking or security breaches, it highlights the growing anxiety among crypto users, who are becoming increasingly vigilant in light of the rising number of security incidents across the industry. Trust Wallet's swift resolution of the issue may have reassured users, but the ongoing security challenges in crypto space continue to be a cause for concern.
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