Trust Wallet denies TWT delisting rumors from Binance as FUD

Trust Wallet (CRYPTO:TWT) has dismissed recent rumors claiming that Binance would delist its native token, Trust Wallet Token (TWT), calling them baseless fear, uncertainty, and doubt (FUD).

On Monday, misleading claims and fabricated images circulated on social media, suggesting that Binance was planning to remove TWT from its platform.

This misinformation sparked panic within the community, causing TWT's price to drop by 25%, hitting an intra-day low of $0.715.

The Trust Wallet team responded on Tuesday by issuing a statement to clarify that TWT is not being delisted from Binance, nor has it been hacked.

"We’re aware of a series of FUD posts surrounding the Trust Wallet token. Although we are unsure where this FUD originated from or why it was chosen to be circulated, we can confirm that both of the rumors that are being spread — are not true," the team stated.

Adding to the confusion, incorrect claims emerged that Binance owns TWT.

While Binance does support Trust Wallet as a platform, it does not own the TWT token.

Trust Wallet, a widely used cryptocurrency wallet, has over 130 million users globally and supports more than 70 blockchains and 9 million digital assets.

The team acknowledged the community's role in verifying and debunking the misinformation that circulated earlier in the week.

Though the recent hack rumors were untrue, Trust Wallet has faced security issues in the past.

In November 2022, a vulnerability associated with wallet addresses created via a browser extension led to losses of up to $170,000.

Another hack in February 2023 resulted in an estimated $4 million loss for a user.

At the time of reporting, the Trust Wallet Token (TWT) price was $0.8251.