Potential Leak of Private Keys Used for TrueUSD Deployment: An In-Depth Analysis

Significant concerns have been raised over security aspects of stablecoin issuer TrueUSD, specifically relating to potential leaks of private keys used for its deployment. Analyses by blockchain company ChainArgos reveal that TEURO, recognized as unrelated to TrueUSD, has similarities that suggest its token contract was deployed using one of TrueUSD’s private keys.This commentary emerges following an announcement by TrueUSD on October 16, where they clarified their non-affiliation with TEURO. It further coincides with TrueUSD's recent admission of a security breach as late as September 18th, combined with the fact that TEURO had been deployed just ten days prior.This sequence of events presents a few implications:1) An unknown entity holds some of TrueUSD’s private keys;2) TrueUSD might not have fully disclosed the extent of its security breach;3) The increased susceptibility given that Justin Sun successfully minted 850 million TUSD just three days before the acknowledged hacking incident has come under scrutinization.ChainArgos further explains how TrueUSD operates. Once users have undergone standard KYC/AML checks, they are assigned an on-chain exchange address tied to a bank account. There are preset daily limits on the amount each TrueUSD customer can mint or redeem. Any interaction might fall within these set limits without triggering alerts.Adding to this, Crypto detective ZachXBT has voiced concerns that if TEURO was not created following regulations, the private key agreeing to the deployment could've possibly leaked. He outlines a suspicious chain of transactions involving Ethereum addresses and the deployment of TrueChineseYuan (TCNY) contract using the official TuureAUD deployment program.This recent discovery has added to the controversy surrounding TrueUSD, necessitating a thorough investigation to ascertain the truth behind the seemingly interconnected affairs of TrueUSD and TEURO.