Truebit Token Plunges 99% Amid $26M Exploit Rumors

Truebit's native token crashed roughly 99% after reports of a suspected $26 million exploit sent the price tumbling from about $0.16 to near zero, triggering market panic and intense scrutiny from crypto sleuths tracking the stolen funds.

The Truebit team issued statements promising security fixes and began investigating the breach while developers worked to patch vulnerabilities and restore confidence among investors.

The incident highlights the risks in decentralized finance—underscoring the need for stronger security, transparency, and investor due diligence when dealing with crypto projects.

Recovery remains uncertain, but the protocol's team says it is taking steps to harden systems and communicate next steps to the community. Investors remain cautious as the situation develops.