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The team responsible for the stablecoin TrueUSD (TUSD) has reported a possible leak of specific Know Your Customer (KYC) and transaction history information following a breach involving one of TrueCoin’s third-party service providers.
TrueCoin managed the TUSD stablecoin until July 13, 2023. On October 16, a security team from a third-party vendor alerted TrueCoin about “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor.” Consequently, TrueCoin suspects that some customer data associated with TUSD may have been compromised.
The TUSD team was notified by TrueCoin that they received a communication from a third-party vendor’s Security Team indicating “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor.”
— TrueUSD (@tusdio) October 16, 2023
TrueCoin confirmed that its internal systems were not breached or accessed, clarifying that the incident was limited to a third-party vendor. “TUSD system is SECURE and not attacked. Both TUSD system and TUSD’s reserves are UNAFFECTED,” TrueUSD stated via its official X (formerly Twitter) account.
Data obtained from such breaches—names, email addresses, and phone numbers, among other details—are often exploited for phishing schemes. Attackers may contact unsuspecting investors by impersonating various cryptocurrency services, frequently promising substantial returns in a short period.
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The extent of the attack and the resulting data leak has yet to be determined, as the total number of affected users’ data was not disclosed in the announcement.
TrueUSD has not yet provided a response to Cointelegraph’s inquiry for comment.
Related: TrueUSD halts minting via Prime Trust, loses dollar peg
TrueCoin recently distanced itself from Prime Trust, based in Nevada, shortly after the latter unexpectedly suspended all fiat and cryptocurrency deposits and withdrawals.
TrueUSD stated that “it is not affected by the situation” at Prime Trust while highlighting its diverse partnerships and maintaining “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 asserted.
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