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Blockchain-based inflation data platform Truflation has confirmed that it has been attacked by malware, with blockchain analysts estimating losses of up to $5.2 million.
"The Truflation team detected some anomalous activity. The attacker launched an attack using malware," the project said in a message on September 25.
Truflation added that it is monitoring the incident and taking measures to protect the funds, working with "leading industry partners" and law enforcement agencies.
The project, backed by companies such as Coinbase Ventures and Chainlink, is also trying to contact the hacker and is open to negotiations. He added that he would reward "white hats" who offered help.
According to blockchain expert ZachXBT, about $5.23 million was lost from Truflation's treasury multi-signatures and personal wallets on Ethereum, while about $100,000 combined was lost on seven other chains.
A separate assessment by blockchain security firm Cyvers found that Truflation lost $4.95 million.
About $3.89 million in Truflation (TRUF), $1.07 million in Ether (ETH), and $236,000 in the DAI stablecoin were stolen from the team's Ethereum wallets.
ZachXBT Assessment of Truflation Security Incident
The Truflation team stated that customer funds were not compromised. Its betting funds were also unaffected.
Related: Tokenized Asset Market Will Reach $10 Trillion by 2030: Chainlink
Report TRUF token fell 15.6% to $0.068 in 90 minutes shortly after the publication of Truflation X, before partially recovering to $0.073, CoinGecko data shows. Its market capitalization is currently $12.8 million.
Truflation is a blockchain-based financial data service that provides real-time economic and inflation data.
About ten months after its launch in December 2021, Truflation also opened up a data market that tracks various commodity indices such as sugar, cocoa, coffee, cattle, oil, and wheat.
"The Truflation team detected some anomalous activity. The attacker launched an attack using malware," the project said in a message on September 25.
Truflation added that it is monitoring the incident and taking measures to protect the funds, working with "leading industry partners" and law enforcement agencies.
The project, backed by companies such as Coinbase Ventures and Chainlink, is also trying to contact the hacker and is open to negotiations. He added that he would reward "white hats" who offered help.
According to blockchain expert ZachXBT, about $5.23 million was lost from Truflation's treasury multi-signatures and personal wallets on Ethereum, while about $100,000 combined was lost on seven other chains.
A separate assessment by blockchain security firm Cyvers found that Truflation lost $4.95 million.
About $3.89 million in Truflation (TRUF), $1.07 million in Ether (ETH), and $236,000 in the DAI stablecoin were stolen from the team's Ethereum wallets.
ZachXBT Assessment of Truflation Security Incident
The Truflation team stated that customer funds were not compromised. Its betting funds were also unaffected.
Related: Tokenized Asset Market Will Reach $10 Trillion by 2030: Chainlink
Report TRUF token fell 15.6% to $0.068 in 90 minutes shortly after the publication of Truflation X, before partially recovering to $0.073, CoinGecko data shows. Its market capitalization is currently $12.8 million.
Truflation is a blockchain-based financial data service that provides real-time economic and inflation data.
About ten months after its launch in December 2021, Truflation also opened up a data market that tracks various commodity indices such as sugar, cocoa, coffee, cattle, oil, and wheat.
