Trust Wallet Commits to Cover $7 Million in User Losses from Christmas Day Hack
- User Fund Assurance: Trust Wallet founder Changpeng Zhao confirmed on social platform X that the company will reimburse approximately $7 million in user funds lost due to the Christmas Day exploit, aiming to restore user confidence and stabilize market sentiment.
- Breach Details Unveiled: Initial investigations suggest that attackers exploited the compromised Trust Wallet browser extension version 2.68, leading to unauthorized asset transfers across multiple blockchains including Ethereum, Bitcoin, and Solana, with losses quickly approaching $7 million.
- Security Measures Enhanced: Trust Wallet has released a patched version 2.69 and urged users to update immediately, emphasizing that the breach was limited to the browser extension and that mobile app users were unaffected, demonstrating the company's commitment to user security.
- Industry Reflection: This incident has sparked widespread scrutiny of browser wallet infrastructure and supply chain security; despite the relatively modest loss, it has prompted the industry to reassess the effectiveness of internal controls and review processes.
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Technical Analysis for TWT
Technical Sentiment Analysis for Trust Wallet Token (TWT) As of , Trust Wallet Token (TWT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TWT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TWT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Trust Wallet Token (TWT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.144 | 0.321 | 0.468 | 0.645 | 0.793 | 0.969 | 1.117 |
| Fibonacci | 0.321 | 0.445 | 0.521 | 0.645 | 0.769 | 0.845 | 0.969 |
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