Uniswap Hits Record $1.4M Daily Fees as Hacked Token Sparks Frenzy

Uniswap recorded a record $1.4 million in daily trading fees on January 9, 2026, marking a significant milestone for the decentralized exchange according to Coinfomania. The unprecedented fee spike was driven by a $26 million exploit in the Truebit Protocol, which caused widespread panic trading. Most of the fees collected by Uniswap were generated from heavy trading in the TRU token, the native asset of the Truebit Protocol as reported.

The Truebit Protocol suffered a major security breach earlier in the day, with hackers exploiting a vulnerability in a smart contract deployed five years ago according to The Block. This allowed attackers to mint TRU tokens at a drastically reduced cost, triggering a massive sell-off. As a result, the TRU token's price collapsed from around $0.07 to near zero within hours as data shows.

The exploit led to a rapid devaluation of TRU, causing traders to rush to offload their holdings. Uniswap became the primary platform for these trades, capturing nearly $1.3 million in fees from TRU transactions alone according to Coinfomania.

Why Did This Happen?

The vulnerability exploited in the Truebit Protocol stemmed from a mispriced minting function within an old smart contract according to The Block. Attackers were able to purchase TRU tokens at a fraction of their actual value, leading to a cascading sell-off. Two separate actors were identified in the exploit, with one profiting $26 million and the other gaining approximately $250,000 as reported.

The incident highlights the risks associated with legacy smart contracts, which can remain active and vulnerable for years after deployment according to Blockchain Magazine. Independent researcher Weilin Li noted that older contracts are increasingly attractive targets for attackers due to outdated security practices according to The Block.

How Did Markets React?

The TRU token's price fell nearly 100%, from about $0.16 to $0.0000000007209 within hours of the exploit becoming public according to CryptoBasic. The rapid devaluation left many TRU holders with worthless assets. Uniswap, however, benefited from the panic selling, recording a new all-time high in daily fees according to Coinfomania.

Truebit acknowledged the security breach and advised users not to interact with the affected contract according to Coinpedia. The protocol is working with law enforcement to address the incident and mitigate further losses. Despite these efforts, the damage to TRU and investor confidence appears extensive according to Coinpedia.

What Are Analysts Watching Next?

The Truebit incident adds to a growing list of DeFi security breaches in 2025, including significant exploits at Balancer, Yearn Finance, and others according to TradingView. Analysts and security experts are now closely monitoring older smart contracts across the Ethereum ecosystem for similar vulnerabilities according to Blockchain Magazine.

The event underscores the importance of continuous smart contract auditing and proactive security measures for DeFi protocols according to Blockchain Magazine. As the industry matures, protocols must balance innovation with robust security practices to prevent similar incidents. Investors are also advised to carefully evaluate the risks associated with older projects and ensure they understand the security posture of the platforms they interact with according to Blockchain Magazine.

The impact of the Truebit exploit extends beyond the protocol itself. It serves as a reminder of the fragility of DeFi infrastructure and the potential for cascading failures in the event of a major security breach. For now, Uniswap has reaped the financial benefits of the chaos, but the broader DeFi community faces a critical test of resilience and adaptability.