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Potential leak of TUSD user data due to third-party vendor breach by TrueCoin

Potential leak of TUSD user data due to third-party vendor breach by TrueCoin

TrueCoin’s Internal Systems Unaffected by Data Breach

TrueCoin, the operator of stablecoin TrueUSD (TUSD), has confirmed that its internal systems were not impacted or accessed in a recent data breach. The company stated that the attack was an isolated incident and limited to a third-party vendor.

On October 16, TrueCoin was notified by the security team of one of its vendors about an anomalous account change made by a compromised support vendor. As a result, TrueCoin suspects that some customer data, including Know Your Customer (KYC) information and transaction history, may have been compromised.

However, TrueCoin reassured users that the TUSD system and its reserves remain secure and unaffected by the breach. The company emphasized that the incident did not impact the stability of the stablecoin.

The exact extent of the data leak and the number of affected users have not been disclosed. TrueCoin has not yet responded to requests for further comment.

Data breaches of this nature often lead to phishing attacks, where attackers use the collected information to target unsuspecting investors. TrueCoin users are advised to remain vigilant and cautious of any suspicious communications.

In a separate development, TrueCoin recently ended its partnership with Prime Trust, a Nevada-based financial institution, following the suspension of all fiat and cryptocurrency deposits and withdrawals by Prime Trust. TrueUSD clarified that it is not affected by this situation and maintains multiple USD rails for minting and redemption.

Overall, TrueCoin is working to address the data breach incident and ensure the security of its users’ information.

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