TrueCoin’s third-party vendor breach potentially leaks TUSD user data


The staff behind stablecoin TrueUSD (TUSD) introduced a possible leak of sure Know Your Customer (KYC) and transaction historical past data after one in every of TrueCoin’s third-party distributors was compromised.

TrueCoin was the operator of the TUSD stablecoin till July 13, 2023. On Oct. 16, a third-party vendor’s safety staff knowledgeable TrueCoin of “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor.” As a end result, TrueCoin suspects the compromise of a few of TUSD’s present buyer data.

TrueCoin’s inner programs weren’t impacted or accessed, as the corporate confirmed the assault was an remoted incident on a third-party vendor. “TUSD system is SECURE and not attacked. Both TUSD system and TUSD’s reserves are UNAFFECTED,” affirmed TrueUSD by its official X (previously Twitter) account.

Data collected from such breaches — names, electronic mail addresses and telephone numbers, amongst others — are usually used for phishing assaults. Attackers attain out to unwary traders by mimicking varied crypto providers, usually promising excessive income briefly quantities of time.

The affect of the assault and the resultant data leak is but to be recognized, as the overall variety of customers’ data was not revealed throughout the announcement.

TrueUSD has not but responded to Cointelegraph’s request for remark.

Related: TrueUSD stops minting via Prime Trust, loses dollar peg

TrueCoin just lately distanced itself from Nevada-based Prime Trust proper after the latter abruptly halted all fiat and cryptocurrency deposits and withdrawals.

TrueUSD introduced that “it is not affected by the situation” at Prime Trust whereas emphasizing its diversified partnerships and sustaining “multiple USD rails” elsewhere.

“PrimeTrust has suspended all deposits of fiat and digital assets. #TrueUSD (#TUSD) is not affected by this situation. We have no exposure to Prime Trust and maintain multiple USD rails for minting and redemption. Rest assured, all your funds are safe with TUSD,” TrueUSD acknowledged.

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