Truebit's TRU Token Plummets 99% After $26 Million Ether Exploit
- Security Breach Incident: Truebit reported a smart contract exploit that drained approximately 8,535 ETH, or about $26 million, triggering a more than 99% crash in TRU's price from $0.16 to nearly $0.0000000029, severely impacting investor confidence.
- Industry Security Trend: Despite the significant losses from the Truebit incident, PeckShield data indicates that total crypto sector losses fell to about $76 million in December, sharply down from $194 million in November, suggesting an overall improvement in industry security.
- Follow-up Measures: Truebit is in contact with law enforcement and is taking all available measures to address the security incident, although it has yet to provide a detailed technical post-mortem, reflecting its commitment to user fund safety.
- Market Reaction: The market's response to the incident was swift and severe, with TRU's plunge not only affecting Truebit's market position but also potentially undermining trust in the entire DeFi ecosystem for the long term.
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Technical Analysis for TRU
Technical Sentiment Analysis for TrueFi (TRU) As of , TrueFi (TRU) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TRU 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, TRU 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 $-.
TrueFi (TRU) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00312 | 0.00426 | 0.00552 | 0.00666 | 0.00792 | 0.00906 | 0.0103 |
| Fibonacci | 0.00426 | 0.00518 | 0.00574 | 0.00666 | 0.00758 | 0.00814 | 0.00906 |
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