Truflation, a blockchain-based platform that provides real-time economic data, has confirmed it was the target of a significant malware attack. The breach, detected on September 25, resulted in estimated losses ranging from $4.95 million to $5.2 million.
According to the announcement on X, the cybercriminals managed to steal approximately $3.89 million in Truflation’s native token (TRUF), $1.07 million in Ether, and $236,000 in stablecoins from the platform’s Ethereum wallets. Fortunately, customer funds and the project’s staking assets remain unaffected and secure.
Truflation’s Malware Incident: Up to $5.2 Million Stolen
Truflation, supported by prominent investors including Coinbase Ventures and Chainlink, is actively addressing the situation. The platform is collaborating with industry experts and law enforcement to mitigate further risks and recover the stolen assets. The team has also initiated contact with the perpetrators and is considering negotiations, offering incentives for white hat hackers who can help in the recovery efforts.
In response to the attack, TRUF token prices initially fell by 15.6% to $0.068 but have since stabilized at $0.073, with a current market capitalization of $12.8 million.
Founded in December 2021, Truflation specializes in providing inflation and economic data, along with a data market tracking commodities like sugar and petroleum. The team remains committed to enhancing security measures and maintaining transparency within the blockchain sector.
Truflation’s swift and proactive measures in the wake of this attack underscore its dedication to safeguarding its platform and ensuring the security of its users.
Related topics:
Binance Super Earn Launches Promotion for Hamster Kombat Token
