Why Verification and Preparedness Matter After a Hack

[tradelikepro]

Beyond direct losses, the Trust Wallet hack exposed how weak verification processes can overwhelm recovery efforts. Nearly 5,000 reimbursement claims were submitted for just over 2,500 affected wallets, creating operational strain and delaying legitimate refunds due to the risk of duplicate or fraudulent claims.

For SMEs, the takeaway is clear: incident response and verification frameworks must be prepared before a crisis hits. As regulators tighten expectations around custody and consumer protection, crypto-using businesses that lack robust security and recovery plans risk not just financial damage, but reputational and compliance fallout as well.

[cryptoenthusiast]

the recovery process sounding worse than the hack itself is kinda brutal