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TrueCoin’s third-party vendor breach potentially leaks TUSD user data

TrueCoin’s internal systems were not impacted or accessed, as the company confirmed that the attack was an isolated incident and limited to a third-party vendor. Stablecoin TrueUSD (TUSD) announced a potential leak of certain Know Your Customer (KYC) and transaction history data as one of TrueCoin’s third -party vendor s got compromised.  TrueCoin was the operator of the TUSD stablecoin till July 13, 2023. On Oct. 16, a third-party vendor’s security team informed TrueCoin of “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor.” As a result, TrueCoin suspects the compromise of some of TUSD’s existing customer data. TUSD team was informed by TrueCoin that they received a third -party vendor 's notification that the vendor ’s Security Team detected “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor .” — TrueUSD (@tusdio) October 16, 2023 TrueCoin’s internal systems were not impact...

Crypto Twitter has a persistent 'fake followers' problem, data reveals

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Shiba Inu had the greatest number of fake followers at 10.26% or 80,000 accounts, while Avalanche and Polygon followed suit with 8.14% and 7.58% of fake accounts respectively. Despite changes introduced by Twitter management since Elon Musk’s takeover, the issue around fake followers remains a persistent problem. As many as 10% of the followers of accounts belonging to crypto influencers and companies are fake, new data from dappGambl has revealed. In April 2023, Musk introduced Twitter Blue — an $8 monthly subscription for verification — to increase the platform’s revenue while making it financially inviable for bots and fake accounts to operate. However, months later, dappGambl’s investigation found that up to 10% of followers from the most follow ed crypto accounts are fake. When it comes to the official accounts of cryptocurrency tokens and ecosystems, Shiba Inu (SHIB) had the highest number of fake followers at 10.26% or 80,000 accounts, while Avalanche (AVAX) ranked second wit...

Blockchain analytics unable to prevent FTX-level illicit schemes

Blockchain tracker Whale Alert has attempted to scan FTX’s historical balance checks to find out whether it was possible to spot the collapse sooner. Data transparency has been a focal point for the crypto industry, but the FTX fiasco has shown that centralized exchanges (CEX) are not transparent enough. So far, crypto analytics firms are apparently not capable of tracking transactions to prevent collapses like FTX. All Bitcoin (BTC) transactions are available publicly on-chain, which enables tracking such transactions when sending crypto from one address to another. However, this is not the case when it comes to interacting with a centralized crypto exchange. Cointelegraph spoke with executives at blockchain intelligence firms, including Chainalysis, Nansen and Whale Alert, to learn more insights about tracking illicit CEX transactions on-chain. According to Chainalysis, a major Blockchain Data platform that cooperates with many governments across the world, there is currently no on-...