TrueUSD’s Client Data Exposed in Third-Party Security Breach

Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Fredrik Vold
Author Categories
About Author

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Source: Adobe / Dennis

Stablecoin issuer TrueUSD recently fell victim to a third-party security breach that led to the exposure of personally identifiable information of some of its clients.

According to screenshots posted on X of an email allegedly sent by TrueUSD to customers, the breach affected clients who were onboarded between 2018 and 2019 and included personal details such as customers’ first and last names, email addresses, and phone numbers.

Additionally, the breach exposed sensitive information, including client mail addresses, dates of birth, bank names, transaction histories, and blockchain wallet public addresses.

The breach was attributed to TrueCoin, a former service provider for TrueUSD, responsible for banking, customer onboarding, and product management.

TrueCoin informed TrueUSD about the breach after a third-party vendor discovered an “anomalous account change” within TrueCoin’s organization, indicating the compromise of a support vendor, TrueUSD said in an X thread on Monday.

Notably, the thread stated that TrueCoin had no records of the attacker downloading, altering, or removing any personal information from its own systems.

“As TrueCoin was engaged as TUSD operator until 13 Jul 2023, they hold certain [know-your-customer] and transaction history data of TUSD users, and part of the data was potentially exposed to the attacker during the attack suffered by TrueCoin’s third-party vendor,” the team added.

TrueCoin response

According to the screenshots of the TrueUSD email, TrueCoin’s cybersecurity and engineering teams immediately initiated an investigation to assess the extent of the breach.

The email added that the team took “swift action” to prevent unauthorized access, and noted that TrueCoin’s internal systems remained uncompromised during the breach.

TrueUSD has recommended that clients remain cautious of potential phishing attacks and that they monitor their accounts for any suspicious activity.

TrueUSD users are encouraged to contact the stablecoin issuer if they detect unusual activity.

More Articles

Altcoin News
Cardano Price Analysis: Is February Going to be a “Crazy Month” of ADA Gains?
Joel Frank
Joel Frank
2025-02-06 19:07:19
Blockchain News
US Crypto Regulations vs. MiCA Rules: Are Global Standards Underway?
Rachel Wolfson
Rachel Wolfson
2025-02-06 18:37:42
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors