Truebit token crashes 99% after reported $26M security exploit
The Truebit protocol reported a security incident “involving one or more malicious actors,” with on-chain tracking indicating approximately $26 million in Ether was removed. Following the reports, the Truebit (TRU) token dropped more than 99%, falling to $0.0000000029 from about $0.16, according to Nansen.
In a Thursday post on X, Truebit said it is working with law enforcement and “taking all available measures” in response to the event. Blockchain analysts monitoring the addresses linked to the protocol reported that 8,535 Ether (ETH), worth about $26.6 million at the time of publication, had been moved. While the smart-contract address flagged by Truebit showed relatively small ETH outflows, analysis from Lookonchain and other on-chain researchers suggested the aggregate losses exceeded $26 million.
The cause of the exploit and whether user funds were affected remain unclear. Truebit did not immediately respond to a request for comment.
Market reaction was swift. Data from Nansen shows TRU fell to an all-time low of $0.0000000029 from about $0.16 shortly after the incident became public.
Truebit incident follows major exploits in 2025
December saw several large-scale security incidents across the sector. On Dec. 27, the Flow Foundation said an attacker had counterfeited tokens on the network, with losses of about $3.9 million. Separately, a malicious update to Trust Wallet’s Chrome browser extension resulted in approximately $7 million being stolen.
Despite these cases, blockchain analytics firm PeckShield reported on Jan. 1 that total losses from exploits and hacks fell to $76 million in December, down from $194 million in November.
Figures reflect estimates available at the time of publication and may be updated as investigations progress.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
