Truebit TRU Token Plunges 99.9% After $26 Million Smart Contract Exploit

Truebit TRU Token Plunges 99.9% After $26 Million Smart Contract Exploit

Truebit's TRU token crashes after a mint pricing error in its smart contract allows a $26.6 million theft, continuing the trend of DeFi security incidents.

ETH

Fact Check
The statement is strongly supported by a consensus across multiple, authoritative, and relevant primary sources. Five independent news outlets, including Yahoo Finance, Cointelegraph, and Bitcoin.com News, corroborate the core claims.First, all relevant sources confirm that a smart contract exploit connected to the Truebit protocol occurred, with the value of the exploit consistently reported as approximately or over $26 million.Second, these sources unanimously report that this exploit was immediately followed by a catastrophic price collapse of the Truebit (TRU) token. The specific percentage of the decrease is reported with slight variations: 99%, 99.95%, and near-100%. The statement's claim of a 99.9% decrease is highly consistent with these reports, especially the 99.95% figure provided by one source. The minor differences are likely attributable to rounding or the precise timing of reporting during a highly volatile event. These slight variations do not contradict the fundamental truth of a near-total value loss.Therefore, the evidence provides strong, consistent support for the statement that the Truebit TRU token's value decreased by approximately 99.9% following a $26 million smart contract exploit.
Summary

Truebit’s TRU token plummeted 99.9%, dropping from $0.16 to $0.000077, after a mint pricing error in a five-year-old smart contract allowed the attacker to steal 8,535 ETH worth $26.6 million. The project has contacted law enforcement and initiated response actions.

Terms & Concepts
  • Smart contract exploit: A breach where a vulnerability in a smart contract is exploited to execute unintended actions, often leading to financial theft.
  • Mint pricing error: A flaw in the minting process of a token that allows attackers to purchase tokens at a significantly lower price than intended.