According to renowned blockchain detective ZachXBT, Truflation, a cryptocurrency project backed by Coinbase Ventures, had around $5 million stolen from “Treasury multisig and private wallets.”
“Project Truflation has been hacked ZachXBT posted on his Telegram channel that “over $5 million was invested a few hours ago across multiple chains from the Treasury multisig and private wallets.”
Around the same time, Truflation posted on X that it had “detected unusual activity” and had been hit with malware. “We are currently monitoring the situation and taking steps to secure our funds while we investigate and cooperate with law enforcement,” the project said.
Truflation also stated that “staking is currently not possible and liquidity on DEXs is limited.”
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About the Author
RT Watson is a senior reporter at The Block, covering a wide range of topics including corporate America, blockchain gaming, and NFTs. Previously, he covered entertainment at The Wall Street Journal, writing about Disney, Netflix, Warner Bros., and the creator economy, with a focus on technological disruption across media. Prior to that, he covered corporate, economic, and political news in Brazil at Bloomberg. RT has interviewed a wide range of people, including CEOs, media moguls, major influencers, politicians, blue-collar workers, drug dealers, and convicted criminals. He holds a Master’s degree in Digital Sociology.