Cybersecurity breaches have become a significant concern within the cryptocurrency industry, particularly among prominent exchanges, as seen within numerous instances of attacks. The recent headline-making example is the
Coinbase data breach, which is expected to cost up to
$400 million, stemming from internal actors who sold customer data illicitly. This incident is not limited to financial implications but extends to a reputational effect, leading to a slump in
Coinbase's share value along with triggering an investigation by the
Securities and Exchange Commission (SEC) and the
Department of Justice (DOJ). Additionally,
Fireblocks has unveiled cyber security tools to help digital asset custodians meet the new European Union Digital Operational Resilience Act (DORA) rules. Ultimately, enhancing
cybersecurity measures within the crypto arena has become a priority, with companies working diligently to curtail the impact of such attacks, including the risks associated with quantum computing-driven threats. Industry leaders like
MicroStrategy's Michael Saylor continue to support Bitcoin’s resilience despite the rise in cyber threats. Concurrently,
SEC has commenced a 'Cyber and Emerging Technologies Unit' to combat cryptocurrency fraud.
Coinbase has flipped a $20M ransom demand into a bounty for information on attackers to tackle its cyberattack issue. Other organizations, like
BTQ and
Safe, are also taking strides to mitigate crypto's 'Cyber Warfare' era by introducing frameworks and forming new development firms.
CYBER Coin News Analytics from Tue, 19 Jan 2021 08:06:10 GMT to Tue, 08 Jul 2025 18:57:11 GMT -
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- Rumor -8
