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NYDFS Penalizes bitFlyer $1.2 Million for Violations to Cybersecurity Regulation

May 13, 2023 By Kim Peretti, Kate Hanniford, Lance Taubin and Ashley Miller

On May 1, 2023, bitFlyer USA, Inc. (“bitFlyer”) entered into a Consent Order with the New York Department of Financial Services (“DFS”) for multiple deficiencies in bitFlyer’s cybersecurity program, most notably for failure to conduct periodic risk assessments to sufficiently inform the design of bitFlyer’s cybersecurity program (as required by 23 NYCRR § 500.09(a)). BitFlyer […]

Filed Under: Crypto, Cyber Risk Tagged With: crypto, cybersecurity

Recent Exploits of Blockchain Bridges Highlight Need for Cybersecurity in Crypto and Risk of Liability

August 2, 2022 By Kim Peretti and Kristen Bartolotta

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 […]

Filed Under: Crypto, Cyber Risk, Cybercrime, Cybersecurity, Digital Crimes, International, Uncategorized Tagged With: blockchain, crypto, cryptocurrency, cybersecurity, Litigation

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Recent Posts

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