Coinbase Secures Approval To Pursue Interlocutory Appeal
The Coinbase CLO Paul Grewal accused the US Treasury of jeopardizing public confidence in the Bank Secrecy Act by failing to adequately handle a cyber intrusion that occurred on December 8. The hack revealed unclassified documents and was linked to Chinese actors.
Coinbase CLO Criticizes Treasury’s Preparedness Amid Cybersecurity Concerns
On X, Coinbase's Paul Grewal cited an MIT researcher, calling the Treasury "unprepared" for the recent hack. He highlighted concerns over the Bank Secrecy Act’s data-sharing rules, warning such breaches amplify fears of crypto user data vulnerability.
Calls for Cybersecurity Reform Grow After Treasury Data Breach
Grewal cautioned that the hack might discourage businesses from giving the Treasury sensitive information. To improve cybersecurity, digital strategist Tanvi Ratna recommended implementing blockchain and zero-trust models. Calls for reforms and improved data protection procedures have been sparked by the tragedy.
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