The TrueUSD (TUSD) stablecoin issuer team has announced that a security breach of TrueCoin’s third-party vendor has leaked TUSD user data.
According to the announcement, the TrueUSD team was informed that a TrueCoin – former operator of TUSD stablecoin – vendor has been compromised which led to leakage of certain KYC details and transaction details regarding its users.
The TrueUSD team said that a part of data held by TrueCoin’s vendor was potentially exposed to the attacker while confirming that TrueCoin’s own system is not affected. The team has also said that this attack did not impact TUSD or its reserve.
While the attack has not done any harm yet, the leaked data might be used for phishing or it could target TUSD users in further scams.
TrueCoin was the operator of TUSD stablecoin until 13 July 2023 which holds data of users’ Know Your Customer (KYC) details as well as transaction history.
In December 2022, TrueCoin transferred TrueUSD business ownership to Techteryx, which was granted complete ownership including operation and management of TUSD in July.
TUSD is a dollar-pegged stablecoin backed by USD deposits which is secured via
third-party institutions. It is deployed on four major chains including Ethereum, BNBChain, Avalanche and Tron while available to bridge on a number of other blockchain networks.