The post Truebit Protocol Suffered a $26.5 million Hack as the TRU Token Crashed 100% appeared first on Coinpedia Fintech News
Truebit Protocol, a blockchain project focused on verified computing, has suffered a major security breach that led to losses of around $26.5 million. The exploit caused the TRU token to crash to near zero, shaking investor confidence.
Here’s how the attack happened and what steps Truebit has taken since then.
Truebit Protocol Suffered a $26.5 million Hack
According to blockchain security firm PeckShield, the exploit was detected after suspicious transactions were recorded on the Ethereum network. The attacker successfully drained nearly 8,500 ETH from the Truebit protocol, valued at approximately $26.5 million at the time of the attack.
On-chain data shows that the stolen funds were later split and transferred to two separate wallet addresses 0x2735…cE850a & 0xD12f…031a60.
However, the attackers commonly use this method to reduce tra
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