Truflation Confirms Malware Attack Losing Up to 5.2 Million

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As an analyst with years of experience in the dynamic and complex world of blockchain and cryptocurrencies, I find it disheartening but not entirely surprising to hear about Truflation’s recent malware attack. While it’s disappointing to see any project lose funds, especially one as promising as Truflation, I admire their swift response and proactive approach in addressing the issue.

In simple terms, Truflation – a blockchain platform delivering real-time economic data – disclosed it suffered a malware attack. Preliminary estimates suggest losses ranging from approximately $4.95 million to $5.2 million. On September 25, they made this announcement on X after discovering suspicious behavior possibly linked to the cyberattack.

It is said that hackers allegedly managed to make off with approximately 3.89 million dollars worth of Truflation’s own token (TRUF), 1.07 million dollars in Ether, and a further 236 thousand dollars in a stablecoin from the project’s Ethereum wallets. Thankfully, no customer funds were touched, and the project’s staking assets continue to be secure.

As a dedicated researcher involved with Truflation, I can assure you that we are diligently tracking the current circumstances. With the support of esteemed investors such as Coinbase Ventures and Chainlink, we are collaborating closely with industry professionals and law enforcement agencies to ensure the safety and security of our assets.

The team has made contact with the hacker and is willing to discuss terms, even going so far as to provide incentives for ethical hackers who can help retrieve the stolen assets. After the announcement, TRUF‘s token price fell by 15.6%, landing at $0.068, but it has since rebounded to $0.073. At present, the market cap of TRUF stands at $12.8 million.

Established in December 2021, Truflation is a platform dedicated to providing inflation and economic updates, along with maintaining a data market that monitors various commodities like sugar and petroleum. The team’s primary goal remains enhancing security measures and ensuring the highest level of transparency in their operations.

Truflation’s aggressive strategy in dealing with the malware issue underscores their dedication towards maintaining security and transparency within the blockchain industry.

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2024-09-26 08:37