According to recent media reports there have been several instances of blockchain bridges being hacked this year, including reports on August 2 that a bridge lost close to $200 million to upwards of 40 hackers who exploited a bug in its protocol, and reports in June that another bridge lost $100 million from hackers allegedly […]
New Cybersecurity Rules In India Impose Strict Reporting Requirements and Steep Penalties
The Indian Computer Emergency Response Team (“CERT-In”) issued Directions on April 28, 2022 “to strengthen the cybersecurity in the country” and that has significant implications for the cybersecurity landscape. Effective June 27, 2022, the Directions, among other requirements, impose a strict 6-hour timeline for notice of a cybersecurity incident and expands the types of cybersecurity […]
White House Releases Recommendations to Protect Against Potential Cyberattacks
The potential for malicious cyber activity has been a concern for the Biden administration throughout the evolving crisis in Ukraine (including the imposition of sanctions against Russia). In response to the concern, the Biden administration, which is now facing “evolving intelligence that Russia may be exploring options for potential cyberattacks,” has released recommendations for companies […]
President Biden Issues Executive Order Directing Coordinated Federal Approach to Digital Assets
As a result of the rise in digital assets, President Biden signed an Executive Order on March 9, 2022 ordering a review of the nation’s approach to cryptocurrency. The Executive Order on Ensuring Responsible Development of Digital Assets (the “Order”) contains both broad policy objectives and specific analysis to be conducted by the federal government. […]
Senate Passes Significant Cyber Bill Requiring Cyber Incident Reporting
The Strengthening American Cybersecurity Act of 2022, a bill that narrowly failed to become law last year, was passed in the Senate on Tuesday, March 1 as a package of cybersecurity measures that would require operators of critical infrastructure and federal civilian agencies to report cyber incidents to the Department of Homeland Security’s Cybersecurity and […]