Attackers exploited a five-year-old contract to mint unlimited TRU tokens.
Uniswap news today just had one of its biggest days ever. On January 9, the decentralized exchange recorded more than $1.4 million in daily trading fees. It is setting a new all-time record. The data was shared by Wu Blockchain, based on a dashboard by on-chain analyst Marcov. But the reason behind this surge was not normal market growth. Instead, it came from panic trading after a major crypto hack.
According to on-chain data, most of Uniswap’s record fees came from heavy trading in the TRU token, linked to the Truebit Protocol. Just one day earlier, Truebit suffered a serious smart contract exploit. The attack drained around 8,500 ETH which is worth about $26 million. Soon after the hack became public, traders rushed to sell TRU. This caused huge trading volume on Uniswap.
As a result, nearly $1.3 million of Uniswap’s $1.4 million daily fees came from TRU token trades alone. So while Uniswap broke a record, it happened during a market panic.
Truebit is an older Ethereum project. It was created to help run complex computing tasks off-chain while keeping results verified on-chain. However, one of its old smart contracts was still active. Hackers found a flaw in this contract. They were able to mint a massive number of TRU tokens at almost no cost. Then they sold those tokens into liquidity pools and drained ETH from the system.
The attack happened fast. Within hours, the TRU price collapsed by almost 100%, falling from around $0.07 to near zero. Security firms quickly flagged the exploit. Soon after, the Truebit team confirmed a security incident and warned users not to interact with the affected contract.
After the hack, traders rushed to exit their TRU positions. This caused massive sell pressure on Uniswap. Liquidity pools were flooded with trades. Fees kept stacking up with every swap. Uniswap’s fee model collects a small cut from every trade. When volume spikes, fees surge. That is exactly what happened in a single day: Uniswap earned more than $1.4 million in fees. This makes it the highest daily fee total in the platform’s history. But this spike did not come from healthy growth. It came from chaos.
This event shows the two sides of decentralized finance. On one side, Uniswap proved how powerful and active DeFi trading can be. The platform handled a huge volume without stopping or freezing. On the other hand, the incident shows how dangerous old smart contracts can be. Even long-running projects can still have weak points. The Truebit team said it is now working with security experts and law enforcement. But for many users, the losses are already done.
Uniswap news today record-breaking day that will go down in DeFi history. But it also sends a clear warning. High volume does not always mean healthy growth. Sometimes, it comes from fear. For traders, the lesson is simple. Always check smart contract risk. Be careful with older projects and never forget that in crypto, things can change very fast. Uniswap may have won the day in fees. But the market paid the price.
