Truebit Protocol Suffers $26.6M Exploit as TRU Token Collapses Nearly 100%
- Security Breach Incident: The Truebit Protocol suffered a major attack due to a flaw in a legacy smart contract, resulting in a loss of approximately 8,535 ETH, valued at around $26.6 million, which caused the native token TRU to nearly collapse, plummeting from $0.16 to $0.000077 as liquidity evaporated rapidly.
- Attack Details: Attackers exploited a mispriced minting function to mint large quantities of TRU tokens at nearly zero cost, selling them back into the protocol's reserve, highlighting the security risks of legacy contracts that remain active despite newer versions being developed.
- Attacker Analysis: Blockchain analysts identified two attackers involved in the exploit, with the primary attacker profiting approximately $26 million and a secondary actor extracting around $250,000, indicating the coordinated and rapid nature of the attack.
- Protocol Response: Truebit is collaborating with law enforcement to conduct a full investigation to assess the scope of the damage and has urged users not to interact with the affected contract address, with the protocol's future likely hinging on the investigation's outcome and potential recovery plans.
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Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN) As of , TokenFi (TOKEN) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TOKEN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TOKEN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000694 | 0.00175 | 0.00258 | 0.00363 | 0.00446 | 0.00552 | 0.00634 |
| Fibonacci | 0.00175 | 0.00247 | 0.00291 | 0.00363 | 0.00435 | 0.0048 | 0.00552 |
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