Stablecoin TrueUSD (TUSD) announced that due to a compromise of one of TrueCoin’s third-party vendors, certain know-your-customer (KYC) and transaction history data may have been leaked.
TrueCoin is the operator of the TUSD stablecoin until July 13, 2023. On October 16, the third-party vendor’s security team notified TrueCoin of “unusual account changes made by a compromised support vendor within the (TrueCoin) organization.” Therefore, TrueCoin suspects that some of TUSD’s existing customer information has been leaked.
TrueCoin notified the TUSD team that they received notification from a third-party vendor stating that the vendor’s security team detected “unusual account changes within the (TrueCoin) organization by a compromised support vendor.”
— TrueUSD (@tusdio) October 16, 2023
TrueCoin’s internal systems were not compromised or accessed, as the company confirmed the attack was an isolated incident targeting a third-party vendor. “The TUSD system is safe and cannot be attacked. Neither the TUSD system nor the TUSD reserve is affected.” TrueUSD confirmed via its official X (former Twitter) account.
The data collected from such breaches (names, email addresses, phone numbers, etc.) are often used in phishing attacks. Attackers approach unwary investors by imitating various crypto services, often promising high profits within a short period of time.
The impact of the attack and the resulting data breach has yet to be determined, as the total number of user profiles was not disclosed during the announcement.
TrueUSD has not yet responded to Cointelegraph’s request for comment.
related: TrueUSD stops minting through Prime Trust and loses peg to U.S. dollar
TrueCoin recently distanced itself from Nevada-based Prime Trust, which abruptly halted all fiat and cryptocurrency deposits and withdrawals.
TrueUSD announced that Prime Trust is “independent of the situation,” while highlighting its diverse partnerships and maintaining “multiple USD tracks” elsewhere.
“PrimeTrust has suspended all fiat and digital asset deposits. #TrueUSD (#TUSD) is not affected by this situation. We have no exposure to Prime Trust and maintain multiple USD minting and redemption standards. Rest assured that you All funds in TUSD are safe,” TrueUSD said.
Magazine: Beyond crypto: Zero-knowledge proofs show potential from voting to finance
Svlook
