Blockchain security platform Cyvers flagged a suspicious on-chain transaction involving the Truebit Protocol, with an estimated loss of roughly $26 million.

Cyvers said its real-time monitoring systems detected an anomalous transfer in which a single address received around 8,535 ETH, labeled on-chain as “Truebit Protocol: Purchase.”

 Based on current market prices, the transaction value is estimated at approximately $26 million.

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According to Cyvers, the activity triggered alerts due to unusual behavioral patterns and elevated risk indicators identified by its detection models. 

The firm described the transfer as inconsistent with typical transaction flows associated with the protocol.

As of publication, Truebit has not publicly disclosed any security incident or confirmed a loss, and no official explanation has been provided regarding the nature or purpose of the transaction. 

It remains unclear whether the funds were moved as part of an exploit, an internal operation, or a misconfigured contract interaction.

Truebit is a blockchain protocol that focuses on verifying complex computations without running them directly on-chain. 

Instead of executing heavy calculations on Ethereum, Truebit allows them to be processed off-chain and later checked for correctness using cryptographic and economic safeguards.

The protocol was created to help smart contracts handle tasks that are too expensive or technically difficult to run on a blockchain, such as large data processing or advanced logic.

Meanwhile, Cyvers said it continues to monitor the address and related transactions for further movement of funds. 

The firm did not attribute the activity to a confirmed exploit but emphasized that the transaction met its internal criteria for anomalous behavior.

This is a developing story.