The hack exploited an old smart contract, allowing attackers to mint unlimited TRU tokens, which they sold into liquidity pools, draining ETH from the system.
According to reports, on January 8, 2026, Uniswap recorded over $1.4 million in daily trading fee capture revenue, the highest the platform has ever recorded since it was established.
However, the record number came with a caveat. According to a Dune dashboard created by an analyst named Marcov, nearly $1.3 million of those fees came directly from trades related to Truebit’s TRU token.
Marcov has now filtered out those values from the live dashboard because the token value has dropped to zero and won’t be claimed and used to burn UNI.
The Truebit hack, which occurred earlier in the week significantly affected Uniswap’s financial metrics, ironically turning what was essentially a disaster into a record-breaking event for the prominent DEX.
Liquidity providers view this as a toxic flow despite the historical record it set because under normal circumstances, Uniswap’s daily trading fee capture revenue is considerably lower, so the spike has been linked to the volatility triggered by the hack of the Truebit protocol as traders rushed to dump their TRU token.
This caused huge sell pressure on Uniswap’s TRU liquidity pools, with fees stacking up with every trade. The platform was poised to benefit thanks to its fee model, which demands traders pay a small percentage on every trade. As such, when volume spikes, the fees skyrocket.
The incident tested Uniswap’s protocol, but it stood strong, handling the insane volume without issues. The hack also revealed just how deadly old smart contracts can be and that even established projects can become vulnerable.
Truebit, a blockchain protocol that focuses on verifying complex computations without running them directly on-chain, was hacked on January 8.
The hacker reportedly targeted a flaw in one of the protocol’s old contracts, which allowed them to mint an unlimited amount of TRU tokens at almost no cost before selling them back into the protocol’s binding curve.
This allowed the hacker to siphon the ETH reserved on a repeated cycle that ultimately helped them get away with about $26 million in ETH.
Blockchain security platform Cyvers was one of the first platforms to flag suspicious activity relating to the exploit after its real-time monitoring systems detected an anomalous transfer that saw a single address receive around 8,535 ETH, labeled on-chain as “Truebit Protocol: Purchase.”
Based on current market prices, the value of the ETH is estimated at approximately $26 million. According to the firm, the transfer was inconsistent with typical transaction flows associated with the protocol.
At first, the nature of the transaction was unknown. But as things became clearer in the hours that followed, the TRU token dropped nearly 100% from 0.07 to almost zero. According to CoinMarketCap data, there is currently no circulating supply, and the market is at $0.
Meanwhile, the Truebit team acknowledged the flaw and urged users to avoid interacting with the contract while claiming they are working with security experts and law enforcement to trace the funds.
