Ethereum-based verification and computation protocol Truebit suffered a security incident in which assets worth 8,535 ether, or about $26.6 million, were stolen.
The Block reported on Jan. 9 that Truebit said on social media platform X that it was aware of a security incident by a malicious actor and was working with law enforcement agencies.
Truebit did not disclose the exact scale of the losses. On-chain analysis platform Lookonchain said the stolen amount was about 8,535 ether. Independent researcher Weilin Li said the attack stemmed from a pricing error in a smart contract minting function deployed 5 years ago. The vulnerability allowed attackers to buy large amounts of Truebit's native token TRU at an abnormally low price.
The Block said 2 attackers appeared to have been involved, with one taking about $26 million and the other about $250,000. After the incident, the TRU token fell to $0.00007721 from $0.16, wiping out 99.9% of its value.
Chi-gyu Hwang
delight@d-today.co.kr