Truebit Token Price Falls 99% after Reports of $26M Exploit
The Truebit (TRU) token price plummeted over 99% following reports of a $26 million Ether exploit on the protocol.Summary
The Truebit protocol experienced a security incident involving malicious actors, leading to the reported loss of approximately $26 million worth of Ether (ETH), specifically around 8,535 ETH. In response to the exploit, the price of the Truebit (TRU) token crashed by over 99%, falling from about $0.16 to an all-time low of $0.0000000029. Truebit confirmed the incident via an X post, stating they were in contact with law enforcement and taking all necessary measures. While the affected smart contract address initially showed small ETH amounts stolen, external analysis confirmed the total loss exceeded $26 million. This hack follows a trend of significant exploits in the crypto industry, although overall reported losses dropped in December compared to November.
(Source：Cointelegraph)