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On-chain data platform detected an abnormal transaction labeled as Truebit Protocol purchase, approximately 8,535 ETH (equivalent to $26 million USD) transferred in a short period. This large transaction subsequently triggered a chain reaction in the TRU token—its price plummeted 99.95% within a single trading day, an astonishing decline.
What exactly happened? Market analysis points to two possible culprits. First, the liquidity of a certain DEX trading pair may have suddenly dried up, causing sharp slippage; second, the project's price feed malfunctioned, resulting in on-chain prices being completely disconnected from reality. In either case, it indicates systemic risk exposure.
Such events also serve as a reminder to market participants— even well-known projects are not entirely safe. Holders face liquidity risks, traders need to be vigilant about abnormal price feeds, and developers should strengthen smart contract security audits. For investors within the ecosystem, real-time monitoring of large on-chain transfers and abnormal price fluctuations has become an essential part of risk management.