Cyber risks for crypto custodians @ BAFIN скачать в хорошем качестве

Cyber risks for crypto custodians @ BAFIN

Christian Steinert, German Federal Financial Supervisory Authority (Bafin), explains that crypto custodians, firms responsible for securely storing private keys to digital assets, face growing cyber threats. The biggest risk is the theft or loss of assets, made worse by blockchain’s irreversible transactions, making recovery and anti-money laundering efforts extremely difficult. Combined with the volatility of crypto markets, these factors create an attractive playing field for sophisticated threat actors, including state-sponsored groups. However, the most critical vulnerabilities are often found in weak internal processes rather than in the technology itself. Poor risk management, inadequate oversight of third-party providers, and overreliance on omnibus wallets. Cyber risk in crypto custody is often less about tech and more about business resilience. --- The EU Supervisory Digital Finance Academy (EU-SDFA) is a TSI flagship initiative aimed at supporting financial supervisory authorities in coping with the risks and opportunities associated to the use of advanced technologies in the financial sector. The European Commission – SG Reform has established the Academy in cooperation with the three European Supervisory Authorities (EBA – ESMA – EIOPA) and the Florence School of Banking and Finance part of the Robert Schuman Centre of the European University Institute (FBF-EUI). Follow EU-SDFA activities: Website: https://eusdfa.eui.eu/ Linkedin:   / eu-supervisory-digital-finance-academy   X: https://x.com/EU_SDFA