Coinbase-backed Truflation secures an estimated hack of around $5M

Blockchain-based inflation data platform Truflation has confirmed it was hit by a malware attack, with blockchain analysts estimating up to $5.2 million lost.

“The Truflation team has discovered some unusual activity. An attacker launched an attack using malware,” the project said in a September 25 X post.

Truffletion added that it is monitoring the incident and working with “key industry partners” and law enforcement to take steps to protect funds.

The project — backed by the likes of Coinbase Ventures and Chainlink — is also trying to find the hacker and is open to negotiations. He added that he will reward the white hats who provide help.

$5.23 million went missing from Truflation's Treasury Multisignature and a private wallet on Ethereum, while around $100,000 went missing on seven other chains, according to blockchain sleuth ZachXBT.

A separate assessment by blockchain security firm Cybers put Truffle at a loss of $4.95 million.

An estimated $3.89 million in Truflation (TRUF), $1.07M in Ether (ETH) and $236,000 in DAI stablecoin were stolen from the group's Ethereum wallets.

The Truffle team said no customer funds were affected. The stock funds are also not affected.

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The TRUF token fell 15.6% to $0.068 in a 90-minute window shortly after Truflation's X post, before partially returning to $0.073, CoinGecko data shows. The market value is currently set at 12.8 million dollars.

Truflation is a blockchain-based financial information service that provides real-time economic and inflation data.

Ten months after its launch in December 2021, Truffletion launched a data marketplace that tracks various commodity indices such as sugar, cocoa, coffee, cattle, petroleum and wheat.

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