Crypto wallet provider Trust Wallet announced that it had fixed a glitch that caused token balances to disappear and reappear, causing frustration among users.
On Dec. 21, Trust Wallet users went on social media to report issues with their crypto balances disappearing. An X user said their balance would sometimes appear and disappear, while another community member said they almost had a heart attack after seeing their balance disappear.
Community members reporting the glitch on X. Source: X
At 6:45 am UTC, the wallet provider announced that they were aware of the issue concerning BNB (BNB) and Trust Wallet (TWT) balances. The company later acknowledged that other tokens were also affected by the glitch. Despite the issue, the wallet company assured its users that their funds were safe.
By 8:05 am UTC, Trust Wallet posted another update, saying it had already fixed the issue. “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.
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Crypto thieves stole $2.2 billion in 2024
While the Trust Wallet issue was only a glitch, a community member panicked and thought their wallet was drained. The X user’s worries may be caused by the prevalence of security incidents within the crypto space, leading to billions in funds lost.
Source: Steve Owens
Chainalysis data showed that in 2024 alone, crypto hackers stole $2.2 billion in crypto within 303 security incidents.
The centralized finance (CeFi) sector faced significant challenges this year, experiencing a staggering 1,000% year-on-year increase in security incidents. Among the most notable breaches were the WazirX hack in July and the DMM hack in May. The WazirX hack resulted in a loss of $235 million in cryptocurrency, while the DMM hack caused a $305 million loss in Bitcoin (BTC).
Total value stolen in crypto hacks and the number of hacks. Source: Chainalysis
The majority of the losses in 2024 were attributed to hackers associated with the Democratic People’s Republic of Korea (DPRK). Chainalysis said that North Korean hackers stole over $1.3 billion in 2024 across 47 incidents. This accounts for roughly 61% of all the amount stolen this year.
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