FTX’s collapse and the push for centralized regulation of digital assets in the U.S.
11/18/22
By: Luke Zavoli
In 2019, Sam Bankman-Fried launched FTX, a cryptocurrency exchange backed by marquee investors, and in three years, grew FTX into the third largest cryptocurrency exchange – valued at $32 billion. This past Friday, November 11, 2022, FTX …
ALL ABOARD: TSA ISSUES NEW SECURITY DIRECTIVE TO TRACK CYBERSECURITY EFFORTS BY THE RAIL INDUSTRY
10/25/22
By: Nicholas Jajko and Nicholas Hubner
SECURITY DIRECTIVE: 1580/82-2022-01
EFFECTIVE DATE: October 24, 2022
Working with the Cybersecurity and Infrastructure Security Agency (“CISA”), TSA issued a new Security Directive to protect against malicious cyber-intrusions affecting the nation’s railroads …
9/13/22
By: Nicholas Jajko
The litigation battleground in class actions arising out of data breaches is almost always fought on Article III standing. Before any discovery is exchanged or fact depositions take place, claimants must allege they have standing to sue …
9/1/22
By: Julia Bover
On August 24, 2022, California Attorney General Rob Bonta issued the first-ever enforcement action under the California Consumer Privacy Act (“CCPA”) against cosmetics retail chain Sephora.
The CCPA was signed into law in 2018 and went into …
Cyber insurance experiencing ‘Future Shock’
8/4/22
By: Barry M. Miller and Elisabeth Gentile
The idea of “Future Shock”—that an accelerated pace of change causes social and psychological disruptions—dates from Alvin Toffler’s 1970 book of the same name. As it copes with the mutable nature of cyber …
Elon Musk’s planned purchase of Twitter reignites questions of open source code security
4/29/22
By: Alexia Roney
On April 25, 2022, Elon Musk sealed the deal to buy Twitter, Inc., for $44 billion. Among the changes to the platform, Musk has floated making the algorithm that prioritizes tweets “open source,” so the public could …
Congress Imposes New 72-Hour Reporting Requirement for Cyber Security Incidents
3/28/22
By: David Cole and Heather Kuhn
President Biden’s promise to prioritize cybersecurity this year is beginning to take shape. On March 15, 2022, President Biden signed into law the Cyber Incident Reporting for Critical Infrastructure Act (“Cyber Incident Reporting Act”). …
Russia-Ukraine conflict raises cyber risks for U.S. enterprises
3/1/22
Cybersecurity—which is under constant attack from an unsavory mix of international state actors, paramilitaries, and organized crime—is never that far removed from geopolitics. So when a nation-state like Russia—hardly an unknown in the annals of cybercrime—physically invades another country, there …
$3.6 billion in cryptocurrency has been recovered… so what now?
2/22/22
By: Julia Bover
On February 8, 2022, the Department of Justice (“DOJ”) successfully seized over $3.6B in stolen cryptocurrency linked to a 2016 hack of Bitfinex, a virtual currency exchange platform. The Bitfinex hack was one of the biggest digital …
The preservation of appellate rights is critical to any trial
2/15/22
In a rare trade secret appeal involving two competitors in the alcohol sale software business, the United States Court of Appeals for the Eleventh Circuit provided a not-so-subtle reminder to all attorneys that correctly preserving appellate …
1/28/22
By: David Cole, Nick Jajko and Heather Kuhn
Each year on January 28th, the International Association of Privacy Professionals (IAPP) celebrates International Data Privacy Day. It was a day created to establish awareness about the importance of respecting privacy, …
The human resources impact of the Kronos ransomware attack
1/11/22
By: Chenee Castruita
The unique combination of COVID-19 and a drastic decrease in the workforce found more workers putting in overtime this holiday season. Unfortunately, millions of workers last month experienced a delay not only in their packages, but in …