Coinbase-Backed Truflation Confirms Hack, Estimated Loss Around $5 Million

Truflation, the inflation tracking platform backed by Coinbase, has confirmed a recent security breach. While the company emphasizes that no customer funds were stolen, the hack is estimated to have resulted in a loss of around $5 million. The breach involved unauthorized access to internal systems, leading to the compromise of sensitive information. Truflation is currently investigating the incident and has taken steps to enhance security measures. The company has assured users that their personal data remains secure and is working diligently to restore full functionality to its platform.