Crypto Market News Today, December 26: Trust Wallet Hack Steals $7 Million Amid Bitcoin’s Red December

What’s good today? Well, nothing besides it’s Christmas. Trust Wallet users drained following a big Chrome browser hack as Bitcoin struggles in price despite Gold and Silver hitting all-time highs.

This Christmas Day, Trust Wallet users have faced a big hit as their wallets have been drained in a phishing hack. The hacker targeted the Chrome extension version 2.68, and they used a supply-chain exploit to steal private keys from wallets. Bitcoin, Ethereum, Solana, and some EVM chains like BNB are affected, and in total, the hack drained around $7 million from over 600 Trust Wallet users.

ZachXBT of X, an on-chain sleuth, was one of the first to spot the issue and alert the community. Binance’s CEO, Changpeng Zhao, confirmed the $7 million loss and promised full reimbursements for everyone affected. Trust Wallet released a fix with version 2.69, which stopped any further thefts.

(source – ZachXBT Telegram)

But for the victims, the blow is shocking, and the damage is done. One of Trust Wallet users, who has been in crypto since 2018, said she followed all the best practices, and her funds were still stolen during the hack. However, CZ assured users that the stolen funds would be covered, saying, “User funds are SAFU.”

So far, $7m affected by this hack. @TrustWallet will cover. User funds are SAFU. Appreciate your understanding for any inconveniences caused. 🙏

The team is still investigating how hackers were able to submit a new version. https://t.co/xdPGwwDU8b

— CZ 🔶 BNB (@cz_binance) December 26, 2025

If you’re using Trust Wallet, make sure to update right now. It’s a good reminder that no wallet is 100% foolproof.

Beyond Trust Wallet Hack: Bitcoin Price in the Red, What’s Going On This December?

Besides the Trust Wallet hack, the bigger pictures follow the Bitcoin price, which has been struggling this December. We’re seeing a familiar pattern of dips in the market, just like we’ve seen in past Decembers.

The big question on our mind is:

Will this red month lead to a green January?

POV: coming down for Christmas Dinner
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“There’s our little crypto guy… come tell us about your coins” pic.twitter.com/Skqz49wvY0

— CRYPTO 101 Podcast (@CRYPTO101Pod) December 25, 2025

Despite the struggles of Bitcoin and its price fluctuations, there are some bright spots. The stablecoin market cap has hit an all-time high of $310 billion, marking a 70% increase in just a year, and crypto adoption is still growing. Plus, the total crypto market cap is still on the rise if we compare it year to year. But, the expiration of Bitcoin and Ethereum options today could create some volatility, hopefully with an upside, and the bulls to take over.

(source – CoinGecko)

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What’s Next for Bitcoin in 2026? Is a Bull Run Coming?

For 2026, opinions are all over the place. Peter Schiff is warning of an economic collapse that could eventually drag Bitcoin down with it. On the other hand, CZ Binance is still pretty bullish, predicting that 2026 could be the start of a “supercycle” for crypto, especially with mainstream adoption and better tech.

When bitcoin was ATH, have you ever thought, “I wish I bought bitcoins early”?

Guess what, those who bought early did not buy at ATH, they bought when there were fear, uncertainty and doubt.

Merry Christmas 🎄

— CZ 🔶 BNB (@cz_binance) December 25, 2025

Bitcoin’s long-term fundamentals still look strong. While we’re seeing some short-term struggles, things like the growth in the stablecoin market and the ongoing interest from institutional investors show that crypto is here to stay. Plus, we’ve seen in the past that Bitcoin tends to bounce back in February after a tough December and January.

So, while the next few months might be a bit bumpy, a solid recovery in 2026 could be in play. After all, crypto has been through its fair share of ups and downs, and it’s bounced back every time. Remember, Bitcoin is a million-dollar asset, and nothing can change it forever, or just yet.

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