The value of Truebit Token has fallen by 99% after a report of a $26M exploit
The price of TRU dropped from $0.16 to $0.000000029 after the protocol reported a security issue and crypto sleuths tracked down the stolen ether.
The Truebit protocol has reported a security vulnerability “involving one or more malicious actors” with a smart contract address that represents the loss of $26 million worth of Ether.
In a Thursday X post, Trubitt said he was in contact with law enforcement and was “taking all steps” following the security incident. Crypto sleuths monitoring the protocol reported that the exploit led to the removal of 8,535 Ether (ETH), worth an estimated $26.6 million at the time of publication.
The compromised smart contract address provided by Truebit shows that a small amount of ETH was stolen. However, analysis by Loonchain and other sleuths indicates that the total amount of crypto stolen in the attack is more than $26 million.
It's unclear what the motive for the million-dollar exploit is or whether user funds are at risk. Cointelegraph reached out to Trubitt for comment on the incident, but did not receive a response by the time of publication.
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Trubit (TRU) token price almost fell to an all-time low following reports of exploits. According to data from Nansen, the price of TRU has fallen by more than 99% from about $0.16 to $0.0000000029 at the time of writing.
Trubit hack follows major exploits in 2025
December saw several significant hacks and exploits where millions of dollars worth of digital assets were stolen.
According to the Flow Foundation, an attacker was able to create fake tokens on the network on December 27, causing a loss of around $3.9 million. Hackers targeted Trust Wallet's Chrome browser extension using a malicious update to steal $7 million.
Despite these events, the blockchain analysis platform PeckShield reported on January 1 that the total loss due to exploitation and hacking in the entire crypto industry was $ 76 million in December from $ 194 million in November .
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