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CryptoIntelligence 2024-12-22 16:34:00

Trust Wallet Resolves Glitch That Caused Token Balances to Disappear

Crypto wallet provider Trust Wallet announced that it has resolved a glitch that caused token balances to disappear and reappear, frustrating many users. On Dec. 21, Trust Wallet users took to social media to report issues with their crypto balances vanishing. One X user mentioned that their balance would occasionally appear and disappear, while another user said they nearly had a heart attack upon seeing their balance vanish. At 6:45 am UTC, Trust Wallet acknowledged the issue, noting it initially affected BNB and Trust Wallet Token (TWT) balances. The company later confirmed that other tokens were also impacted. Despite the glitch, Trust Wallet reassured its users that their funds were secure. By 8:05 am UTC, the company announced that the issue had been 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. While the incident was a technical error, it caused panic among some users. One X user feared their wallet had been drained, a reaction likely influenced by the prevalence of security breaches in the crypto space. Crypto Thefts Reach $2.2 Billion in 2024 Chainalysis data revealed that crypto hackers stole $2.2 billion in 2024 across 303 security incidents. The centralized finance (CeFi) sector saw a 1,000% year-on-year increase in breaches, including the WazirX hack in July, which resulted in a $235 million loss, and the DMM hack in May, which caused a $305 million Bitcoin loss. North Korean hackers were responsible for over $1.3 billion in stolen funds across 47 incidents, accounting for 61% of the year’s crypto thefts. Trust Wallet’s resolution of the glitch underscores the need for robust systems in a landscape rife with security challenges.