A Trust Wallet malfunction that resulted in the disappearance of crypto balances was reported by community members on social media.
Trust Wallet, a crypto wallet provider, stated that it had resolved a malfunction that resulted in the disappearance and reappearance of token balances, which caused users to experience frustration.
Trust Wallet users reported an issue with their crypto balances disappearing on social media on December 21.
An X user reported that their balance would occasionally appear and disappear, while another community member claimed that they nearly suffered a heart attack after witnessing their balance disappear.
At 6:45 a.m. UTC, the wallet provider indicated that they were cognizant of the matter regarding the balances of the BNB and Trust Wallets.
Subsequently, the organization acknowledged that the error had an impact on additional tokens.
The wallet company maintained its commitment to the security of its users’ funds, despite the matter.
Another update was posted by Trust Wallet by 8:05 a.m. UTC, indicating that the issue had been resolved.
“Hello, Trust Family, there will be no more malfunctions!” The matter has been satisfactorily resolved, and all systems should now function as intended.
“The company appreciates your comprehension.”
In 2024, Crypto Thieves Plundered $2.2 billion
Even though the Trust Wallet issue was merely a glitch, a community member became frightened and believed that their wallet had been depleted.
The X user’s concerns may be attributable to the high frequency of security incidents in the crypto sector, which has resulted in the loss of billions of dollars.
Crypto hackers stole $2.2 billion in crypto within 303 security incidents in 2024, according to Chainalysis data.
This year, the centralized finance (CeFi) sector encountered substantial obstacles, including a startling 1,000% year-over-year increase in security incidents.
The WazirX attack in July and the DMM hack in May were two of the most significant breaches.
The WazirX breach resulted in a $235 million loss in cryptocurrency, whereas the DMM hack caused a $305 million loss in Bitcoin.
Hackers associated with the Democratic People’s Republic of Korea (DPRK) were responsible for the preponderance of the losses in 2024.
According to Chainalysis, North Korean hackers perpetrated 47 incidents in 2024, resulting in the theft of more than $1.3 billion.
Approximately 61% of the total quantity stolen this year is accounted for by this.
