CZ: Trust Wallet will fully cover the losses from the hack, user funds are safe and secure

2025-12-282025-12-26 by admin

BlockBeats news, December 26, Binance founder CZ posted on social media stating, ‘As of now, the Trust Wallet hack has resulted in a total loss of approximately $7 million. Trust Wallet will fully cover the related losses, and user funds are secure. The team is still investigating how the hacker successfully submitted and released a new browser extension version.’

PANews reported on December 31 that Tom Lee, co-founder of Fundstrat and chairman of BitMine, wrote on the X platform: "Typically, during these last holiday trading sessions, many institutional investors exit the market, and algorithmic trading programs and bot trading programs begin to dominate the market, along with sell-offs for tax avoidance. These constitute the market dynamics in the last few days of December." Previously, in BitMine's announcement of acquiring 44,463 ETH last week, Tom Lee mentioned that market activity tends to slow down as the year enters its final weeks of holiday season. Year-end tax-avoidance selling depresses cryptocurrency and cryptocurrency-related stock prices, with this effect typically most pronounced between December 26th and December 30th; therefore, they are adjusting their market strategy accordingly. Earlier today, it was reported that Bitmine pledged another 118,944 ETH and increased its holdings by 32,938 ETH .