Truebit Confirms Smart Contract Exploit as TRU Price Crashes
Truebit, an Ethereum-based DeFi protocol, confirmed a smart contract exploit on January 8. The incident involved a logic flaw in a minting contract that allowed an attacker to repeatedly exploit incorrect pricing calculations, leading to a loss of 8,535 ETH (approximately $26.44 million). Following the announcement, the price of the TRU token collapsed by 99.99%, dropping from $0.16 to nearly zero. Truebit is working with law enforcement and has advised users to avoid interacting with the affected contract. No official recovery plan has been released yet.
TheNewsCrypto01/09 07:29