Add the Chex cereal to a large plastic bag and crush into fine pieces using a rolling pin.

In a large bowl, mix 3 cups crushed Chex cereal, 1/2 cup confectioner’s sugar, and peanut butter until evenly combined. Freeze the mixture for about 30 minutes until firm.

In a microwave-safe bowl, melt semisweet chocolate chips in 10-second intervals, stirring in between, until smooth. Add coconut oil and stir until combined.

Line a baking sheet with parchment paper. Scoop peanut butter mixture into 1-inch balls using a 2-teaspoon cookie scoop, roll into rounds with your hands, and place them on the parchment-lined baking sheet.

Using a wooden pick or fork, dip each truffle into the melted chocolate and place it back onto the parchment-lined baking sheet.

Refrigerate the truffles until the chocolate sets, approximately 20 minutes.