Truflation, a blockchain-based platform providing real-time economic data, confirmed it fell victim to a malware attack, resulting in losses estimated between $4.95 million and $5.2 million. On September 25, the team announced on X that they detected unusual activity linked to the attack.
The hackers reportedly stole about $3.89 million in Truflation’s native token (TRUF), $1.07 million in Ether, and $236,000 in a stablecoin from the team’s Ethereum wallets. Fortunately, no customer funds were affected, and the project’s staking funds remain secure.
Truflation, backed by notable investors like Coinbase Ventures and Chainlink, is actively monitoring the situation and is working with industry experts and law enforcement to secure their assets.
The team has also reached out to the hacker and is open to negotiating, even offering rewards for white hats who can assist in recovering the stolen funds. Following the news, TRUF token prices dropped by 15.6% to $0.068 but have since recovered to $0.073. Currently, the token holds a market cap of $12.8 million.
Founded in December 2021, Truflation offers inflation and economic information and even established a data market that tracks different commodities such as sugar and petroleum. The team continues to be focused on the improvement of security and the level of transparency of their activities.
Truflation’s proactive approach to addressing the malware attack shows their commitment to security and transparency in the blockchain space.
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