Truebit has confirmed a security incident after an exploit drained over $26m in ETH, with on-chain data pointing to a smart contract flaw.
The Truebit protocol has confirmed a security incident involving one of its smart contracts on 7 January. The on-chain exploit resulted in the loss of more than 8,500 ETH, valued at approximately $26–26.
5 million at current prices. In a statement posted on X, Truebit said it had identified malicious activity linked to the “Truebit Protocol: Purchase” contract at address 0x764C64b2A09b09Acb100B80d8c505Aa6a0302EF2, and urged users not to interact with the contract until further notice.Pricing flaw enabled free token mintsindicates the exploit stemmed from a pricing logic failure in the contract’s getPurchasePrice function. The function reportedly returned a zero price for unusually large mint requests, allowing attackers to mint tokens at no cost. Using this flaw, the attacker was able to repeatedly mint and sell tokens back into the protocol’s bonding curve, draining ETH reserves through a rapid buy-sell loop.The majority of the stolen funds were consolidated into a single address, with a smaller portion routed to a secondary wallet.Shortly after the exploit, roughly half of the stolen ETH was routed through Tornado Cash, according to transaction records. The rapid use of mixing services suggests the exploit was deliberate and pre-planned, rather than opportunistic.The exploit had an immediate market impact. The TRU token fell sharply following the incident. It dropped more than 60%, from around $0.16 to $0.005 in a single 12-hour candle on major exchanges.The drop reflects traders’ reaction to the scale of the loss and uncertainty around remediation.The Truebit incident comes amid a broader rise in crypto-related crime.shows that illicit cryptocurrency transactions increased sharply in 2025, primarily driven by stolen funds and activity associated with sanctioned entities.The trend highlights how economically motivated attacks continue to target weaknesses in smart contract logic, particularly those tied to pricing and token issuance mechanisms. At the time of writing, Truebit has not announced recovery plans or whether users will be made whole.Final Thoughts The Truebit exploit highlights how pricing and boundary-condition bugs remain among the most dangerous smart contract risks, even without complex attack vectors. The incident adds to growing evidence that economically motivated exploits continue to scale alongside broader crypto adoption.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitmine Stacks $14.2 Billion Treasury, Becomes Major Ethereum Holder, and Plans Made in America Validator NetworkBitmine, defying the ETF frenzy, is amassing a massive crypto treasury, including 4.14 million ETH (3.43% of all ETH), and planning a large-scale U.S.-focused Ethereum validator network called MAVAN, making it a key player in the network. The company's total holdings reach $14.2 billion, positioning it as a dominant force.
Read more »
Ethereum vs Bitcoin: Is the Q1 pattern about to flip in ETH’s favor?Ethereum is seeing a supply shock build. If this momentum holds, can Ethereum outperform Bitcoin in Q1 2026?
Read more »
Morgan Stanley’s Solana ETF sparks SOL vs. ETH debateSolana: Could Morgan Stanley’s SOL ETF signal growing institutional interest and give it an edge over Ethereum in the market?
Read more »
Best Crypto Presale 2026: Digitap ($TAP) Dominates Headlines After ETH Hits $3,134Ethereum is back in the spotlight as the new year begins. ETH has broken above the key $2,700 resistance zone and is now trading around...
Read more »
Ethereum: BlackRock buys $149mln of ETH, but sellers guard THIS zoneEthereum on-chain data shows whales rotating $31.7M into staked ETH, locking over 40,000 stETH as BlackRock accumulates ETH amid volatility.
Read more »
Ethereum’s BPO fork: How it will shape ETH’s 2026 predictionEthereum raised its blob limit to 21 via a major BPO fork. With application usage already strong, is this a strategic move to support ETH?
Read more »