On July 7, 2026, the TAC Protocol token suffered a catastrophic decline, plummeting over 82% in 24 hours to around $0.0056. Within just 15 minutes, the drop exceeded 90%, according to a report by Wu Blockchain. The token's market cap shrank to about $26.2 million, down from a recent peak of $0.06688 set on June 30. Trading volume exploded to $66.6 million, more than ten times the previous day's level, signaling panic selling.
The collapse comes just two months after a $2.8 million bridge exploit on May 11, which the team later reclassified as a white-hat incident. The attacker returned approximately 90% of the funds after being allowed to keep 10%, and the team dropped any legal action. The cross-chain bridge was restored on June 10 following a security audit and a software patch—though the fix inadvertently caused 316 duplicate transactions. Days before the crash, on June 30, TAC implemented a network upgrade requiring node operators to install a new binary. No official explanation for the sell-off has been provided.
TAC, an EVM-compatible blockchain for the TON ecosystem, launched in July 2025 with an $800 million liquidity campaign and support from TON Ventures and Hack VC. The token was listed on Binance Alpha and Binance Futures, adding to its visibility. The sudden price rout has raised questions about possible whale activity, liquidity concerns, and the broader stability of the project.
