Truebit Token Plunges 99% After $26M Exploit
Truebit disclosed a security breach on Jan. 8, 2026, after on-chain analysts traced roughly $26 million in stolen Ether linked to the protocol. TRU’s price plunged from about $0.16 to $0.0000000029, a drop of roughly 99%, as liquidity dried up and holders rushed to exit positions. The scale of the loss effectively rendered the token valueless on major price feeds.
The incident underscores persistent smart-contract risk and will likely prompt fresh scrutiny from auditors and regulators. On-chain tracing may help identify recipient addresses and enable exchange freezes or legal action, but recoveries are uncertain and typically slow. Investors and counterparties should monitor official Truebit statements and on-chain activity closely; the breach could have wider reputational effects for projects relying on the protocol.