Stablecoin Issuer TrueUSD Experiences Security Breach
TrueUSD, a stablecoin issuer, has recently suffered a security breach that resulted in the exposure of personally identifiable information belonging to some of its clients. The compromised data includes customers’ first and last names, email addresses, phone numbers (for clients onboarded between 2018 and 2019), client addresses, dates of birth, bank names, transaction histories, and blockchain account public addresses.
The Involvement of a Third-Party
The breach can be attributed to TrueCoin, a former banking, customer onboarding, and product management service provider for TrueUSD. TrueCoin received notification from a third-party vendor on September 20, 2023, regarding an abnormal account change within their organization caused by a compromised support vendor. Although no evidence suggests that the attacker accessed or manipulated personal information, TrueCoin’s cybersecurity and engineering teams immediately launched an investigation.
Recommended Actions for Customers
In response to the incident, TrueUSD advises its customers to remain vigilant and monitor their personal accounts for any suspicious activity. They also urge clients to be cautious of phishing attacks and to contact the company if they observe any unusual behavior.
We have reached out to TrueUSD for further comment on the matter.
Hot Take: TrueUSD Faces Data Breach Concerns
Stablecoin issuer TrueUSD has encountered a significant setback with the exposure of personally identifiable information due to a security breach. While the breach was facilitated by a third-party vendor, it remains crucial for TrueUSD to ensure the security of its clients’ data by implementing robust protective measures. This incident serves as a reminder for individuals utilizing cryptocurrency services to exercise caution and monitor their accounts closely. Companies must prioritize cybersecurity and promptly address any potential vulnerabilities to safeguard customer information and maintain trust in the crypto industry.
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