TRU price fell from $0.16 to $0.0000000029 after the protocol reported a security incident and crypto detectives tracked stolen Ether.
Truebit Protocol reported a security incident “involving a number of malicious actors” involving a sensible contract address, indicating the lack of $26 million value of Ether.
In a post on Thursday, crypto experts monitoring the protocol reported that the exploit had resulted within the removal of 8,535 Ether (ETH), value about $26.6 million on the time of publication.
Source: Truebit
The affected smart contract address provided by Truebit showed only small amounts of stolen ETH. However, evaluation by Lookonchain and other detectives revealed that the entire value of cryptocurrencies stolen within the attack was greater than $26 million.
It is unclear what led to the multimillion-dollar exploit or whether user funds were in danger. Cointelegraph reached out to Truebit for comment on the incident but didn’t receive a response on the time of publication.
Almost immediately after the exploit was reported, the value of the Truebit (TRU) token fell to an all-time low. According to data from Nansen, TRU price fell by greater than 99% to $0.0000000029, from about $0.16 on the time of writing.
The Truebit hack follows major exploits in 2025
December saw several significant hacks and exploits during which hundreds of thousands of dollars value of digital assets were stolen.
The Flow Foundation reported that on December 27, an attacker managed to forge tokens on the network, leading to a loss of roughly $3.9 million. Hackers also targeted Trust Wallet's Chrome browser extension with a malicious update to steal $7 million.
Despite these incidents, blockchain analytics platform PeckShield reported on January 1 that total losses across the crypto industry resulting from exploits and hacks fell from $194 million in November to $76 million in December.
