Truebit (TRU) Crashes 99.9% in Seconds: $26M Drained by "Zombie" Contract
The Truebit (TRU) token collapsed 99.9% this morning, falling from $0.16 to effectively zero ($0.0000000012) in moments.
What Happened?
While investors focused on the project's current roadmap, a forgotten 5-year-old contract acted as a back door.
According to on-chain analysts at Lookonchain and Cyvers, the attack did not exploit Truebit’s current infrastructure. Instead, it targeted a "Zombie Contract"—a legacy smart contract deployed five years ago.
The flaw allowed the attacker to exploit a bonding curve error, minting millions of TRU tokens at near-zero cost. The hacker then immediately dumped these free tokens into the reserve pool, extracting 8,535 Ether (~$26.6 Million) drained from the protocol's reserves.
MinMax Take
If you held $1,000 of TRU yesterday, it is worth less than $0.01 today. This volatility underscores the need to diversify beyond single-protocol assets.