Truebit's TRU Token Plunges 99.95% After Cyvers Flags Suspected 8,535 ETH Drain on January 8, 2026

On January 8, 2026, Cyvers Alerts reported a suspected incident involving Truebit after its system detected a transaction tied to an estimated loss of 8,535 ETH, valued at about $26 million. Around the same time, on-chain data showed TRU's price collapsing by 99.95% in one day, a move more consistent with a DEX liquidity failure or pricing issue than normal selling. The situation has raised questions for trading desks about potential exposure to a labeled Truebit purchase contract and renewed concerns over ticker confusion between Truebit (TRU) and TrueFi (TRU).