TrueUSD customer data exposed in third-party security breachTable of ContentsCrypto NewsTrueUSD customer data exposed in third-party security breachBitcoinBTCSecuritySECURITYReadREADGalxeGALTrueUSDTUSDcrypto.newsBy crypto.newsCreated 5m ago, last updated 4m ago•2 mins readTrueUSD customer data exposed in third-party security breachTable of ContentsSteps taken by TrueCoin and TrueUSDTrueUSD client data, including names and blockchain wallet addresses, is exposed following a security breach involving a third-party vendor.A breach involving a third-party vendor has exposed sensitive client data of TrueUSD, a leading issuer of stablecoins. TrueUSD was alerted to the security incident by TrueCoin, the former service provider responsible for the company’s banking, customer, and product management. This incident has not compromised TrueCoin’s internal IT infrastructure.The compromised data includes names, email addresses, and phone numbers of clients who had joined the platform between 2018 and 2019. Additionally, more extensive data such as client addresses, birth dates, the names of their banks, transaction histories and public blockchain wallet addresses were revealed.On Sept. 20, TrueCoin reported receiving an alert from a third-party vendor about an unusual modification within the organizational account. Although there is no evidence that the attacker manipulated, downloaded, or erased any personal data, the incident prompted an immediate investigation.Upon receiving the alert, TrueCoin promptly initiated a thorough investigation, led by its cybersecurity and engineering teams, to gauge the scope of the security breach. The company acted quickly to avert any additional unauthorized access and assured that its internal systems remained secure throughout the incident.TrueUSD is urging its clients to remain vigilant in monitoring their personal accounts for any irregular activities. Clients are also advised to be cautious of phishing attempts and to promptly report any unusual occurrences to the company.#crypto #crypto2023 #CryptoTalks

Introduction:Innovation in the world of digital currencies has brought forth various advancements, with stablecoins emerging as a significant development. While cryptocurrencies like Bitcoin have gained widespread attention, the volatility associated with them has hindered their potential as a widely accepted medium of exchange. With stablecoins, the landscape of digital currencies is evolving, providing enhanced stability, reliability, and broader applications. In this post, we will delve into the world of stablecoins, exploring what they are, how they work, and their potential to revolutionize the financial industry.Understanding Stablecoins:Stablecoins are a type of digital currency that aims to maintain a stable value relative to well-established assets such as fiat currencies, commodities, or other cryptocurrencies. Unlike volatile cryptocurrencies, stablecoins offer stability by pegging their value to a specific asset or utilizing algorithmic mechanisms. This pegging mechanism ensures that the value of stablecoins remains relatively constant over time, making them more suitable for everyday transactions and financial activities.Types of Stablecoins:There are several types of stablecoins, each with its own unique characteristics and methods for achieving stability. The major types include:1. Fiat-Collateralized Stablecoins:These stablecoins are backed by traditional fiat currencies, such as the US dollar or the euro. For every unit of stablecoin issued, an equivalent amount of fiat currency is held in reserve, providing confidence in the stability of the digital asset.2. Crypto-Collateralized Stablecoins:These stablecoins are collateralized by other cryptocurrencies, where a reserve of different cryptocurrencies is held to back the stablecoin. Smart contracts ensure the stability by automatically adjusting the collateral ratio based on market conditions.3. Algorithmic Stablecoins:These stablecoins rely on algorithmic mechanisms to maintain stability without direct collateralization. They employ complex algorithms and governance systems to dynamically manage supply, demand, and price stability.Benefits of Stablecoins:Stablecoins offer several benefits that make them an intriguing alternative to traditional cryptocurrencies and fiat currencies:1. Stability: By pegging their value to established assets, stablecoins provide stability, making them suitable for everyday transactions, financial activities, and long-term storage of value.2. Global Accessibility: Stablecoins can be transferred and utilized instantly across borders, providing a frictionless experience for individuals, businesses, and even countries.3. Lower Transaction Costs: Stablecoins have the potential to significantly reduce cross-border transaction costs compared to traditional methods, making them an attractive option for international commerce.4. Financial Inclusion: Stablecoins can enable access to financial services for the unbanked population and those in developing nations who lack reliable banking infrastructure, fostering financial inclusion and economic empowerment.5. Programmability: Stablecoins built on blockchain technology can leverage smart contracts, allowing for programmable features and automation, revolutionizing financial applications such as lending, decentralized finance (DeFi), and remittances.Challenges and Risks:While stablecoins possess great potential, there are challenges and risks that must be addressed:1. Centralization and Counterparty Risk: Some stablecoins rely on a single entity or centralized authority for collateral management, introducing counterparty risk and dependency on trust.2. Regulatory and Legal Concerns: Stablecoins may face regulatory scrutiny concerning their issuance, operation, and compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.3. Market Volatility: In the case of crypto-collateralized stablecoins, the volatility of underlying cryptocurrencies can pose risks, potentially impacting the stability of the stablecoin itself.Conclusion:Stablecoins represent a promising advancement in the world of digital currencies, offering stability, accessibility, and programmability. As technological and regulatory advancements continue, stablecoins have the potential to revolutionize financial systems, promote financial inclusion, and redefine the way we conduct transactions. However, careful evaluation, regulation, and innovation are crucial to ensure their long-term success and mitigate associated risks. The next big wave in digital currencies might just be driven by stablecoins, bridging the gap between traditional finance and the world of decentralized cryptocurrencies.#BTC #CryptoTalks #crypto2023 $BNB $ETH

The past week in the cryptocurrency market has been positive, with Bitcoin rising more than 10% and some altcoins experiencing partial rallies led by BTC.There will be many token unlocking operations next week that may affect the balance in the cryptocurrency market. Here is the calendar we have prepared specially for you as Bitcoinsistemi.com:(All times are written in Turkish time (UTC+3).)Cartesi (CTSI)Market Value: $95.42 millionToken Unlock Amount: $2.75 million (2.88% of market cap)Date: 23 October 2023, 03:00Bonfida (FIDA)Market Value: $17.18 millionToken Unlock Amount: $2.91 million (16.91% of market cap)Date: 23 October 2023, 03:00Coin98 (C98)Market Value: $91.20 millionToken Unlock Amount: $2.85 million (3.13% of market cap)Date: 23 October 2023, 19:00Ribbon Finance (RBN)Market Value: $91.41 millionToken Unlock Amount: $3.66 million (3.99% of market cap)Date: 24 October 2023, 03:00Mask Network (MASK)Market Value: $215.71 millionToken Unlock Amount: $1.68 million (0.78% of market cap)Date: 24 October 2023, 11:00dYdX (DYDX)Market Value: $358.89 millionToken Unlock Amount: $12.58 million (3.50% of market cap)Date: 24 October 2023, 18:00H2O Dao (H2O)Market Value: $26.87 millionToken Unlock Amount: $3.97 million (14.77% of market cap)Date: 25 October 2023, 03:00Pintu Token (PTU)Market Value: $18.28 millionToken Unlock Amount: $1.42 million (7.75% of market cap)Date: 25 October 2023, 03:00TENETMarket Value: $9.70 millionToken Unlock Amount: $1.86 million (19.10% of market cap)Date: 25 October 2023, 03:00SophiaVerse (SOPH)Market Value: $3.26 millionToken Unlocking Amount: $2.36 million (72.18% of market cap)Date: 25 October 2023, 03:00GateToken (GT)Market Value: $353.16 millionToken Unlock Amount: $24.81 million (7.02% of market cap)Date: 26 October 2023, 03:00Dogechain(DC)Market Value: $11.67 millionToken Unlock Amount: $1.66 million (14.27% of market cap)Date: 26 October 2023, 03:00Ronin (RON)Market Value: $109.20 millionToken Unlock Amount: $9.31 million (8.53% of market cap)Date: 27 October 2023, 03:00FlowMarket Value: $465.88 millionToken Unlock Amount: $5.93 million (1.27% of market cap)Date: 27 October 2023, 08:00Axle (AXL)Market Value: $140.57 millionToken Unlocking Amount: $7.90 million (5.62% of market cap)Date: 27 October 2023, 08:00ApeX (APEX)Market Value: $4.63 millionToken Unlock Amount: $1.16 million (24.99% of market cap)Date: 27 October 2023, 15:00Yield Guild Games (YGG)Market Value: $43.02 millionToken Unlock Amount: $2.17 million (5.03% of market cap)Date: 27 October 2023, 17:00Radworks (RAD)Market Value: $65.40 millionToken Unlock Amount: $1.99 million (3.05% of market cap)Date: 28 October 2023, 03:00Open Campus (EDU)Market Value: $77.04 millionToken Unlocking Amount: $8.73 million (11.31% of market cap)Date: 28 October 2023, 18:00ECOx (ECOX)Market Value: $15.95 millionToken Unlock Amount: $1.98 million (12.41% of market cap)Date: 28 October 2023, 18:00WOO Network (WOO)Market Value: $312.15 millionToken Unlock Amount: $2.86 million (0.92% of market cap)Date: 29 October 2023, 09:00#cryptonews #CryptoTalks #crypto2023 *This is not investment advice.