Truebit token price falls 99% after reports of $26M exploit

The TRU price fell to $0.0000000029 from $0.16 after the protocol reported a security incident and crypto sleuths tracked stolen Ether.

The Truebit protocol reported a security incident “involving one or more malicious actors” with a smart-contract address suggesting the loss of $26 million worth of Ether.

In a Thursday X post, Truebit said it was in contact with law enforcement and “taking all available measures” following the security incident. Crypto sleuths monitoring the protocol reported that the exploit had resulted in the removal of 8,535 Ether (ETH), worth about $26.6 million at the time of publication.

The affected smart contract address provided by Truebit showed only small amounts of ETH stolen. However, analysis from Lookonchain and other sleuths signaled that the total amount of crypto stolen in the attack was worth more than $26 million.

Read more