TrueUSD Stablecoin Announces Potential Data Leak After Third-Party Vendor Compromise


This article has been republished with permission from Binance News.

According to Cointelegraph, stablecoin TrueUSD (TUSD) has announced a potential leak of certain Know Your Customer (KYC) and transaction history data after one of TrueCoin’s third-party vendors was compromised. TrueCoin operated the TUSD stablecoin until July 13, 2023. On October 16, the third-party vendor’s security team informed TrueCoin of an anomalous account change within their organization made by a compromised support vendor. As a result, TrueCoin suspects the compromise of some of TUSD’s existing customer data.

TrueCoin’s internal systems were not impacted or accessed, as the company confirmed that the attack was an isolated incident on a third-party vendor. TUSD’s system and reserves remain secure and unaffected, according to TrueUSD’s official X (formerly Twitter) account. Data collected from such breaches, including names, email addresses, and phone numbers, are typically used for phishing attacks. The impact of the attack and the resultant data leak is yet to be identified, as the total number of users’ data was not revealed during the announcement.

TrueCoin recently distanced itself from Nevada-based Prime Trust after the latter abruptly halted all fiat and cryptocurrency deposits and withdrawals. TrueUSD announced that it is not affected by the situation at Prime Trust, emphasizing its diversified partnerships and maintaining multiple USD rails elsewhere. TrueUSD has not yet responded to Cointelegraph’s request for comment.

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