Summary of Contents

  • The Complex Breach
  • User Caution Is Recommended
In the crypto industry today, security breaches are common news. Frauds and scams are frequent in an unregulated economy. The Ethereum network was used to create the stablecoin TrueUSD (TUSD), which features transparent proof-of-reserve attestation and a 1:1 peg to the US dollar. 

Early in 2023, it had a sharp increase in acceptance as Binance, a major exchange, accepted it. Interest in TUSD as a safe and reliable investment choice in the cryptocurrency market has increased as a result of this development. Is it also a great investment and safe to buy? 

A recent security incident at TrueUSD, a stablecoin issuer, exposed some customers' personally identifiable information (PII). Names, emails, phone numbers, addresses, and even blockchain account public addresses were exposed in the attack, which was conducted by TrueCoin, the company that provided TrueUSD's former service.

Although TrueCoin reacted quickly to stop the breach, customers are advised to be on the lookout for potential phishing scams and other unusual activity in their accounts. 

The Complex Breach


The security failure, according to accounts from the block, resulted in the unintentional leak of personal data including names, email addresses, phone numbers, and other specifics. On September 20, 2023, a compromised support vendor working for TrueCoin started the breach, prompting a swift response from the engineering and cybersecurity teams.

Fortunately, TrueCoin's logs showed no instances of personal data being downloaded, changed, or removed without authorization. This event underlines the need for strong security controls and illuminates the growing security problems facing crypto platforms.

User Caution Is Recommended


Affected clients are advised to keep a close eye on their accounts for odd activity, according to TrueUSD. They also cautioned against falling for potential phishing scams. This incident emphasizes how crucial it is to keep a high level of cybersecurity awareness and how essential it is for all crypto-related services to develop and uphold strict security measures. The business is anticipated to issue a formal statement addressing this occurrence soon.

TUSD is currently trading at $1.00, just a bit higher than its $1.00 100-day moving average. Additionally, it is $0.01 higher than its 52-week low and $0.01 lower than its 52-week high.

DISCLAIMER: We don't provide any investment advice.