Truflation suffers hacking attack, losses of about $5 million

Truflation, a crypto project backed by Coinbase Ventures, has suffered a hack that resulted in a loss of approximately $5 million, with funds stolen from its ‘multi-signature funding vault and personal wallet,’ according to ZachXBT. Truflation later posted on the X platform that it had detected ‘unusual activity’ and confirmed a malware attack. The project said it was monitoring the situation and taking steps to protect funds while working with law enforcement to investigate. Additionally, Truflation announced that it is currently unable to perform pledge operations and that liquidity on the decentralised exchange has been restricted. Truflation is currently actively responding to this security incident to ensure the safety of remaining funds.