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Justin Sun-backed dollar-pegged stablecoin TrueUSD is facing difficulties with attestations for its underlying reserves. According to data from LedgerLens, a real-time reserve balance dashboard displayed on the TrueUSD official website, during the last reporting interval the system received API errors or a non-response from the pricing source and was unable to apply a U.S. dollar value to the collateral assets for that point in time. TUSD automated attestations | Source: TrueUSD As a result, the system received errors from third-party systems “resulting in the sum total of liabilities being greater than the sum total of the relevant assets.” “Commonly, over the historical operation of the system, the Balances ripcord is triggered by temporary imbalances seen in normal operations. However, the Balances ripcord can also be triggered due to an actual imbalance of liabilities and corresponding assets.” LedgerLens You might also like: TrueUSD paus...

The automated attestation s for TrueUSD are currently pause d, citing a balances issue . Provided by The Network Firm for TrueUSD , the system includes a ‘ripcord’ feature that notifies users if there is a problem that could affect the ability to generate attestation s. Currently, the ‘Balances’ ripcord is active, which according to Archblock means: “During the last reporting interval, the LedgerLens system received responses, errors, or non-responses from third-party systems or accounts resulting in the sum total of liabilities being greater than the sum total of the relevant assets. Screenshot of the TrueUSD ripcord from Archblock’s website . “Commonly, over the historical operation of the system, the Balances ripcord is triggered by temporary imbalances seen in normal operations (such as funds in transit, or management opening a new bank account not yet integrated into the system). However, the Balances ripcord can also be triggered due ...