TRU Token Plummets 100% After $26M Truebit Protocol Hack

The TRU token of the Truebit Protocol has seen a sudden collapse of about 100% after the blockchain platform experienced a major security breach. Although it began as a suspicious transaction, it resulted in a loss of more than $26 million as the attacker walked away with 8.5k ETH.

The loss of millions in ETH sparked a panic sell-off, sending the TRU token price to severe lows. This wiped out almost the cryptocurrency’s entire value before the protocol could find any resolution.

Truebit Protocol Hack Sends TRU Token into Freefall

Truebit Protocol, a prominent Ethereum infrastructure project, has reportedly faced a massive smart contract drain. As noted by security firm Cyvers, a suspicious on-chain transaction spotted on the platform led to losses estimated at approximately $26 million. As part of this Truebit Protocol hack, a single address received 8,535 ETH tokens.

After detecting the security incident, the platform assured that the team is taking efforts to address the situation. In an X post, the platform acknowledged the Truebit Protocol hack, stating,

“Today, we became aware of a security incident involving one or more malicious actors. The affected smart contract is 0x764C64b2A09b09Acb100B80d8c505Aa6a0302EF2 and we strongly advise the public not to interact with this contract until further notice. We are in contact with law enforcement and taking all available measures to address the situation.”

The latest incident represents the first major crypto loss from a 2026 hack. While the BROCCOLI price manipulation recorded the first security incident in 2026, this Truebit Protocol hack marks the second major crypto hack this year. The Binance market maker hacker failed to gain profits via BROCCOLI manipulation, but a trader took advantage of the situation, raking in $1 million in gains. 

TRU Token Hits Record Lows

In response to the Truebit Protocol hack, the platform’s native token, TRU, has seen a notable price correction. As investors were engaged in panic selling, the cryptocurrency fell to almost $0, marking a loss of 100%. Before the crash, the TRU token was trading at $0.16.

After the security breach, the ETH price also saw a marginal drop. However, it managed to stay above the critical $3k support.

Researcher Weilin Li identified that the attacker has taken advantage of an old smart contract flaw. Due to the flaw in the minting function, the hacker was able to buy a large amount of TRU tokens at zero cost. Capitalizing on this loophole, the attacker allegedly bought maximum TRU tokens and sold them back to drain Ether from the pool.

According to an on-chain researcher, n0b0dy, the attacker repeatedly bought and sold the TRU token to exploit the price changes. The wallet has also paid a small amount of builder bribe to speed up transactions.