Crypto News – A third-party security compromise that affected stablecoin issuer TrueUSD exposed some of its customers’ personally identifiable information.
TrueUSD Security Breach: Customers’ Personal Information Leaked
The data comprised consumers’ first and last names, email addresses, and phone numbers (for those who were onboarded in 2018–2019). Client addresses, birth dates, bank names, transaction histories, and public blockchain account addresses were also made available. According to an email obtained by The Block, the incident included the former banking, client onboarding, and product management service provider TrueCoin for TrueUSD.
How was the Security Breach Detected?
On September 20, 2023, a third-party vendor alerted TrueUSD about an abnormal account change made by a compromised support vendor within TrueCoin’s business. TrueCoin then informed TrueUSD of this. The attacker’s attempts to download, modify, or remove personally identifiable information from TrueCoin’s systems are not recorded in the company’s logs, it was stated. The cybersecurity and engineering teams at TrueCoin launched an investigation to ascertain the scope of the compromise as soon as they received this report, according to the email.
TrueCoin took swift action to prevent any further unauthorized access. TrueCoin’s own internal systems were not compromised,
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In light of this event, TrueUSD further stated that users should closely monitor their individual accounts for any irregular activity. The company advised customers to report any suspicious activity to TrueUSD and to be on the lookout for any phishing efforts.
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