Coinbase-backed Truflation confirms hack, estimated around $5M
2024-09-26

Blockchain-based inflation data platform Truflation confirmed it suffered a malware attack, with blockchain analysts estimating it lost up to $5.2 million.
“The Truflation team detected some abnormal activity. An attacker launched an attack using malware,” the project said in a Sept. 25 X post.
Truflation added it was monitoring the incident and is taking measures to protect funds while working with “leading industry partners” and law enforcement. 
The project — backed by the likes of Coinbase Ventures and Chainlink — is also trying to contact the hacker and is open to negotiating. It added it would reward white hats offering assistance.
About $5.23 million was lost from Truflation’s treasury multisignature and personal wallets on Ethereum, while around $100,000 combined was lost on seven other chains, according to blockchain sleuth ZachXBT.
A separate assessment by blockchain security firm Cyvers found that Truflation lost $4.95 million.
Approximately $3.89 million in Truflation (TRUF), $1.07M in Ether ETHUSD and $236,000 in the DAI stablecoin was stolen from the team’s Ethereum wallets.
Truflation’s team said that no customer funds were compromised. Its staking funds weren’t affected either.
The TRUF token fell 15.6% to $0.068 in the 90-minutes window shortly after Truflation’s X post before partially recovering to $0.073, CoinGecko data shows. Its market cap is currently sitting at $12.8 million.
Truflation is a blockchain-based financial data service that provides real-time economic and inflation data.
About ten months after launching in December 2021, Truflation also opened a data marketplace that tracked various commodity indexes, such as sugar, cocoa, coffee, cattle, petroleum and wheat.