Coinbase Ventures-Backed Truflation Hacked for $5.2 Million in Malware Attack

Sep 25, 2024, 11:55 PM

On September 25, 2024, Truflation, a Coinbase Ventures-backed blockchain inflation data platform, detected abnormal activity due to a malware attack. The attack resulted in the theft of approximately $5 million from the Truflation treasury and personal wallets. The total loss is estimated to be around 56,872,500 $TRUF, worth $4.6 million. Truflation has assured that no customer funds are at risk and is working with law enforcement to investigate the incident. CEO Stefan Rust provided an update at 8pm EST. The company has urged users to revoke all contract approvals to protect their funds. The incident was initially reported by on-chain sleuth ZachXBT.