Security vulnerability causes Truebit Protocol to lose $26.5 million - TRU token crashes 100%

Coin Hack Event at Truebit Shakes the Market

Truebit Protocol, a blockchain protocol specializing in verified computation, has experienced a serious security breach. According to blockchain analysis firm PeckShield, unusual transaction activities were detected on Ethereum, through which malicious actors withdrew nearly 8,500 ETH from the system. At the time of the incident, the stolen asset value was approximately $26.5 million.

Details of the Attack and the Stolen Funds Journey

This coin hack targeted a vulnerability in the smart contract architecture of the protocol. After successfully withdrawing the funds, the attackers quickly split the assets and transferred them to two different Ethereum wallets - 0x2735…cE850a and 0xD12f…031a60 - to complicate tracing and protect their identities.

PeckShield pointed out that this technique is a common method to minimize detection risk. A detailed technical analysis of the vulnerability is still underway by experts.

Market Reaction - TRU Token Loses All Value

The most immediate impact was the collapse of the TRU token, the native token of the protocol. Within just a few hours after the incident, TRU plummeted from a high of $0.1659 to as low as $0.000000018 — nearly a 100% drop.

Recent data shows that TRU has partially recovered to around $0.01, but its value remains a small fraction of pre-incident levels. Liquidity on decentralized exchanges was quickly drained, leaving many investors unable to sell their positions. This event clearly demonstrates the close relationship between protocol security and token value — when trust collapses, investors have no other options.

Truebit Protocol Issues Emergency Notice and Response Actions

Following the coin hack, Truebit Protocol issued an official statement confirming the security breach. They warned the community to stop all interactions with the affected smart contract (0x764C64b2A09b09Acb100B80d8c505Aa6a0302EF2) until further notice.

The Truebit team stated they are working closely with law enforcement agencies and taking all possible steps to minimize damage. Official updates will only be announced through the protocol’s official communication channels to prevent misinformation.

Repeated Attack Pattern - Experienced Malicious Actors

A notable detail is that PeckShield discovered the wallet involved in the Truebit hack also participated in an attack on the Sparkle protocol about 12 days ago. In that incident, the attacker stole tokens and then transferred them through an anonymous tool to erase transaction traces.

This recurring pattern indicates that these attackers are highly experienced, continuously scanning projects for security weaknesses. This raises widespread concerns within the DeFi community about overall security vulnerabilities.

Frequently Asked Questions About the Incident

How much did Truebit Protocol lose in the coin hack?

Approximately 8,500 ETH, equivalent to $26.5 million, was stolen from the protocol. The funds were split and transferred to multiple wallets.

What was the impact on the TRU token price?

TRU lost nearly 100% of its value, dropping from $0.1659 to $0.000000018. Currently, the price has recovered to $0.01 but remains very low compared to before.

Is the Truebit protocol safe to use now?

Truebit advises users not to interact with the affected contracts while security measures are being reviewed. Official announcements from the protocol should be awaited before resuming activity.

Who are the perpetrators behind this attack?

The specific identities have not been confirmed, but experts believe these are highly experienced attackers linked to previous coin hack incidents.