Trust Wallet Suffers $7M Security Breach, CZ Confirms Full User Refunds
- Security Breach Impact: Trust Wallet experienced a significant security breach resulting in a loss of approximately $7 million, highlighting vulnerabilities even in platforms known for their security-first approach, which raises concerns among users relying on self-custody wallets.
- User Compensation Commitment: Binance founder CZ assured that all affected users will be fully reimbursed, a move aimed at restoring trust in self-custody wallets despite the widespread concerns triggered by the security incident.
- Enhanced Security Measures: Trust Wallet is currently investigating the root cause of the breach and has begun implementing tighter security protocols, urging users to update their apps and follow best practices to prevent future incidents.
- Industry Warning: This incident serves as a reminder of the risks faced by crypto users managing their own wallets; while Trust Wallet's decision to refund users is commendable, it is crucial for users to remain vigilant and practice safe crypto habits to protect their assets.
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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 Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 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 | 0.143 | 0.321 | 0.483 | 0.66 | 0.823 | 1 | 1.162 |
| Fibonacci | 0.321 | 0.45 | 0.53 | 0.66 | 0.79 | 0.87 | 1 |
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