Decentral Block Post

Stablecoin TrueUSD (TUSD) announced a potential leak of certain Know Your Customer (KYC) and transaction history data as one of TrueCoin’s third-party vendors 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.

TrueCoin’s internal systems were not impacted or accessed, as the company confirmed that the attack was an isolated incident on a third-party vendor. “TUSD system is SECURE and not attacked. Both TUSD system and TUSD's reserves are UNAFFECTED,” affirmed TrueUSD through its official X (formerly Twitter) account.

Data collected from such breaches — names, email addresses and phone numbers, among others — are typically used for phishing attacks. Attackers reach out to unwary investors by mimicking various crypto services, often promising high profits in short amounts of time.

The impact of the attack and the resultant data leak is yet to be identified, as the total number of users’ data was not revealed during the announcement.

Decentralized liquid staking protocol Lido Finance has announced a decision to cease operations on the Solana blockchain following a community vote in Lido’s decentralized autonomous organization.

The proposal to sunset Lido on Solana was first put forward by Lido’s peer-to-peer team on Sept. 5, citing unsustainable financials and low fees generated by Lido on Solana. Voting commenced on Sept. 29 and finished a week later on Oct. 6.

“After extensive DAO forum discussion followed by community vote, the sunsetting of the Lido on Solana protocol was approved by Lido token holders and the process will begin shortly,” Lido explained in an Oct. 16 post.

Lido will not be accepting staking requests as of Oct. 16. Voluntary node operator off-boarding will begin on Nov. 17 and Lido users will need to unstake on Solana’s frontend by Feb. 4.

“After this date, unstaking will need to be done using the CLI,” Lido added.

After two successive weeks of gains, the S&P 500 Index (SPX) started the week on a positive note. This suggests a risk-on sentiment which is a bullish sign. The volatility is likely to pick up as 11% of the S&P 500 companies are expected to report results this week.

The risk-on sentiment could boost buying interest in select cryptocurrencies. One area where bullish activity is seen is the Grayscale Bitcoin Trust (GBTC). Grayscale’s legal victories have reduced the discount on the GBTC to its lowest level since 2021. This indicates that the investors are factoring in the possibility that the trust will finally convert into a spot Bitcoin  (BTC) ETF.

When the price does not break below the support levels on bad news and rises above the overhead resistance on favorable news, it shows that the shorts are running low on confidence. This increases the likelihood of an up-move in the near term.

What are the important overhead resistance levels on Bitcoin and altcoins that need to be crossed to start an uptrend? Let’s analyze the charts to find out.

S&P 500 Index price analysis

The S&P 500 Index (SPX) turned down from the 50-day simple moving average (4,401) on Oct. 12, but the bears could not sink the price below the important level at 4,325.