Crypto world

Trust Wallet: A Use Case For Crypto Security

AI-driven hacking and crypto security: Trust Wallet incident reveals vulnerabilities. Learn essential strategies to protect your digital assets.

AI-driven hacking and crypto security: Trust Wallet incident reveals vulnerabilities. Learn essential strategies to protect your digital assets.

With the recent incident involving Trust Wallet’s temporary disappearance of funds from accounts, it gets me thinking about the lengths that hackers will go these days to siphon money in crypto. Honestly, it’s hard enough to find money with crypto, let alone keep it once you do.

Trust Wallet is one of the most popular crypto payment websites. So, it is a good use case, whether or not this is a targeted hack or just a glitch. The incident was an obvious indicator of how crypto works in the wild: it’s always a threat waiting to happen.

What Happened

Users started noticing some missing money from their crypto accounts. The money was never gone, just hidden. Once Trust Wallet fixed the temporary glitch, the funds crypto reappeared.

It’s worth mentioning that a few users thought their crypto accounts were hacked. I can’t blame them, everyone and their mom are coming up with creative ways to steal crypto these days.

Chainalysis confirms a massive uptick in crypto funds disappearing as well. $2.2 billion was stolen just last year, with most attributed to North Korean hackers. As someone who has spent their life working in the industry, I gotta say, this is a pretty scary development.

Why We Should Trust AI

I’ve had my concerns about AI since its inception. So, I can’t help but think the Trust Wallet incident can be an example of how well AI can ‘work.’

Admittedly, the long-term outlook of AI and crypto isn't entirely clear. One thing is certain: crypto is up.

We live in interesting times, I suppose. But, now more than ever, it seems prudent to have our own best practices to keep money from crypto safe.

Summary

Stay vigilant, stay safe, and good luck out there.

More in 

Crypto world

Get the best sent to your inbox, every month

Thanks a lot for subscribing!
Something went wrong! Please try again
Once monthly, no spam