An Altcoin Experienced a Major Hacking Incident – Its Price Officially Plummeted to Zero

Another security alert has been issued in the cryptocurrency ecosystem. Truebit Protocol (TRU) suffered a serious attack in which approximately 8,535 $ETH (approximately $26.4 million) was drained in a single transaction.

Security monitoring platform Cyvers detected the attack and announced that 8,535 $ETH was withdrawn via a suspicious transaction from the “Truebit Protocol: Purchase” contract, resulting in a total loss of approximately $26 million. Further details will be shared.

Initial findings indicate that the attacker invoked a function in Truebit’s Purchase contract, remarkably named “Attack.” With this move:

• Approximately 8,500 $ETH was withdrawn in a single transaction.
• It was determined that approximately 50% of the funds were channeled through Tornado Cash in a short period of time.

Experts emphasize that the attack was extremely fast and sudden; it was completed in a single move without any attempt at phased evacuation or concealment.

Immediately following the incident, TRU experienced a drop of up to 100% on decentralized exchanges, effectively being wiped out. The rapid drying up of liquidity made it impossible for investors to close their positions.

The graph shows the decline in TRU price.

*This is not investment advice.