If there is one thing we wish would never exist in the Bitcoin and cryptocurrency world, it is undoubtedly security vulnerabilities. It causes many projects to suffer. In addition, customers are also experiencing serious losses. On the other hand, as a result of data leakage, customer information also falls into the hands of other people. Now we are here with such a development.
Danger for Binance and Justin Sun-backed cryptocurrency
There’s news from Binance and Justin Sun-backed Stablecoin issuer TrueUSD. Accordingly, it recently fell victim to a third-party security breach. Accordingly, it caused the disclosure of personally identifiable information about some of its customers. The breach involved names, email addresses, phone numbers (specifically for customers involved in 2018-2019). There are also customer addresses, dates of birth, bank names, and transaction histories. On the other hand, the violation was not limited to this. Accordingly, it revealed details such as blockchain account public addresses.
The breach was orchestrated through TrueCoin, a former service provider to TrueUSD responsible for banking, customer onboarding, and product management. According to an email from Kriptokoin.com, TrueCoin reported that on September 20, 2023, they received a notification from a third-party vendor regarding an “abnormal account change” within their organization due to a compromised support vendor. They assured the cryptocurrency TrueUSD that there was no record of the attacker downloading, modifying or removing personal information from their systems.
Rapid response to violation
Upon receiving the notification, TrueCoin’s cyber security and engineering teams took action immediately. Accordingly, they immediately launched an investigation to assess the extent of the breach. Fortunately, TrueCoin confirmed that its internal systems were not compromised throughout the incident. It also took swift action to prevent further unauthorized access. However, this situation inevitably caused concern in the cryptocurrency world. Accordingly, in response to the breach, TrueUSD made an announcement. Accordingly, he advised his clients to actively monitor their personal accounts for any suspicious activity. It also issued a warning about potential phishing attacks. On the other hand, they encouraged customers to immediately report unusual events.
The security breach is a reminder of the critical importance of protecting personal information in an increasingly digital world. TrueUSD’s response and immediate action is of course very important. Accordingly, it shows their determination to solve the problem and maintain the trust of the user base. As a result of the rapid movement, the cryptocurrency world is breathing a little bit.
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