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

The Truebit protocol reported a information incidental “involving 1 oregon much malicious actors” with a smart-contract code suggesting the nonaccomplishment of $26 cardinal worthy of Ether.

In a Thursday X post, Truebit said it was successful interaction with instrumentality enforcement and “taking each disposable measures” pursuing the information incident. Crypto sleuths monitoring the protocol reported that the exploit had resulted successful the removal of 8,535 Ether (ETH), worthy astir $26.6 cardinal astatine the clip of publication.

Source: Truebit

The affected astute declaration code provided by Truebit showed lone tiny amounts of ETH stolen. However, investigation from Lookonchain and different sleuths signaled that the full magnitude of crypto stolen successful the onslaught was worthy much than $26 million.

It’s unclear what led to the multimillion-dollar exploit oregon whether idiosyncratic funds were astatine risk. Cointelegraph reached retired to Truebit for remark connected the incident, but had not received a effect astatine the clip of publication.

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Almost instantly pursuing reports of the exploit, the terms of the Truebit (TRU) token plummeted to an all-time low. According to data from Nansen, the TRU terms fell much than 99% to $0.0000000029 from astir $0.16 astatine the clip of writing. 

Truebit hack follows large exploits successful 2025

December saw respective important hacks and exploits resulting successful millions of dollars worthy of integer assets stolen.

The Flow Foundation reported that an attacker had managed to counterfeit tokens connected the web connected Dec. 27, resulting successful astir $3.9 cardinal successful losses. Hackers besides targeted Trust Wallet’s Chrome browser extension utilizing a malicious update to bargain $7 million.

Despite these incidents, blockchain analytics level PeckShield reported connected Jan. 1 that the full losses crossed the crypto manufacture owed to exploits and hacks dropped to $76 cardinal successful December from $194 million successful November .

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