Add the Rice Chex cereal to a bowl and crush using a potato masher or your hands until you have mostly small pieces.

Add the peanut butter and powdered sugar and mix until everything is fully combined and evenly coated. Roll the mixture into balls and refrigerate while melting the chocolate.

Melt the chocolate in the microwave in 30-second intervals, stirring between each, until smooth. Coat each truffle in melted chocolate and place on a baking sheet lined with parchment paper.

Refrigerate for at least one hour, or until the chocolate is fully set. Once hardened, roll the truffles in powdered sugar to finish before serving.