Tag Archives: cybersecurity

NYS DFS Focuses on Cybersecurity Violations and Increasing Crypto Resources

Photo of George StamboulidisPhoto of Teresa Goody GuillénPhoto of Michelle TanneyPhoto of Jonathan A. FormanPhoto of Robert A. MusialaPhoto of Sydney ParkBy George Stamboulidis, Teresa Goody Guillén, Michelle Tanney, Jonathan A. Forman, Robert A. Musiala and Sydney Park on Posted in Alert
On May 1, 2023, the New York State Department of Financial Services (DFS or Department) issued a consent order (Consent Order), imposing a $1.2 million fine on bitFlyer USA, a cryptocurrency trading platform and custodial wallet service provider.  The Consent Order described various alleged failures by bitFlyer USA to establish and maintain an effective cybersecurity program, as … Continue Reading

Digital Asset Platforms, Blockchain Supply Chain Initiatives Grow; Enforcement Actions Target Crypto Yield Products and Fraud; DeFi Hacked for $600M

Photo of Robert A. MusialaPhoto of Lauren BassPhoto of Alex KarambelasPhoto of Jordan R. SilversmithPhoto of Joanna F. WasickBy Robert A. Musiala, Lauren Bass, Alex Karambelas, Jordan R. Silversmith and Joanna F. Wasick on Posted in Blockchain
In this issue: • Digital Asset Platforms Expand Across Payments, Art and Sports Industries• Blockchain Supply Chain Initiatives Announced Across Industries• Crypto Exchange Faces Multistate Enforcement Action over Yield Products• DOJ and Manhattan DA Bring Enforcement Actions for NFT and Crypto Fraud• DeFi Network Hacked for over $600 Million in Cryptocurrencies Digital Asset Platforms Expand … Continue Reading
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