Truebit (TRU) Token Plummets 99.9% Following $26.6M Ethereum Hack

The Truebit (TRU) protocol has suffered a catastrophic security breach, resulting in a near-total collapse of its token value. A hacker successfully exploited the system, draining approximately $26.6 million worth of Ethereum (ETH). This incident triggered an immediate and severe market reaction, with the TRU token price crashing by 99.9% from its pre-exploit level. The exploit targeted the protocol's economic incentives, allowing the attacker to mint and withdraw a massive amount of TRU tokens, which were then rapidly sold on the open market. This massive sell-off caused extreme volatility and effectively wiped out the token's liquidity. The Truebit team has acknowledged the attack and is currently investigating the full scope of the vulnerability. This event highlights the critical importance of robust security audits in decentralized finance (DeFi) and serves as a stark warning to investors about the risks associated with smart contract protocols.