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Thursday, February 29, 2024
More
    bitcoin
    Bitcoin (BTC) $ 62,805.83
    ethereum
    Ethereum (ETH) $ 3,474.77
    tether
    Tether (USDT) $ 1.00
    bnb
    BNB (BNB) $ 415.87
    usd-coin
    USDC (USDC) $ 1.00
    xrp
    XRP (XRP) $ 0.594212
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.128547
    cardano
    Cardano (ADA) $ 0.684428
    solana
    Solana (SOL) $ 125.70
    matic-network
    Polygon (MATIC) $ 1.04
    polkadot
    Polkadot (DOT) $ 8.63
    tron
    TRON (TRX) $ 0.143694

    TrueUSD Attestation Suspended Due To Collateral Issues

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    Justin Solar-backed dollar-pegged stablecoin TrueUSD has encountered problem confirming its underlying reserves. In response to LedgerLens, a real-time reserve steadiness dashboard displayed on TrueUSDโ€™s official web site, over the past reporting interval the system obtained API errors or no response from the worth supply and was unable to use a U.S. greenback worth to the collateral belongings for that cut-off date. Because of this, the system obtained errors from third-party methods, โ€œensuing within the sum whole of liabilities being higher than the sum whole of the related belongings.โ€

    On the time of writing, TrueUSD has not made any public statements on this matter. This isn’t the primary time TrueUSD has encountered attestation difficulties. In June 2023, the stablecoin quickly suspended automated attestation attributable to steadiness discrepancies, only a week after the glitches have been resolved.

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    In October 2023, a safety breach involving a third-party vendor uncovered delicate information from TrueUSD clients, who realized of the incident by TrueCoin, its former service supplier answerable for managing the corporateโ€™s banking operations, clients, and merchandise. Whereas the incident didn’t compromise TrueCoinโ€™s inner IT infrastructure, it did expose sure buyer information, together with names, e mail addresses and cellphone numbers, affecting those that joined the platform between 2018 and 2019.

    Picture: Capital

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