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    Truebit TRU Token Crashes 99.9% After $26.6 Million Ether Exploit

    1 Min Read General news

    Older Smart Contract Vulnerability Leads to Massive Token Collapse

    Truebit’s TRU token suffered a near-total collapse, plunging 99.9% after an exploit drained approximately 8,535 ether ($26.6 million) from the protocol’s reserves. The attack highlights the persistent risks posed by older smart contracts and legacy code within Ethereum-based protocols.

    Truebit said in X post;

    The attacker exploited a five-year-old smart contract flaw, where the minting function returned a purchase price of zero for large token buys. This allowed repeated purchases of TRU at no cost, followed by immediate sales into the bonding-curve reserve to extract ether. The exploit involved buy-and-sell loops that gradually drained the protocol, with minor bribes used to prioritize transactions.

    Liquidity evaporated as holders rushed to exit, causing the TRU price to collapse. Truebit confirmed the incident, advising the public not to interact with the affected contract and is coordinating with law enforcement. This event underscores the dangers of legacy smart contract vulnerabilities in crypto ecosystems.

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