The Japanese cryptocurrency industry will establish an ISAC cybersecurity organization to address the risks of Bitcoin leaks

2024-10-23 13:42:20

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ChainCatcher news, according to Coinpost, the Japanese cryptocurrency industry plans to establish a cybersecurity organization "ISAC" within 2024 to address Bitcoin leakage incidents. The organization is led by the Japan Virtual Currency Exchange Association (JVCEA) and the Japan Crypto Asset Business Association (JCBA), aiming to share the latest information on cyber attacks and introduce external audit mechanisms to ensure the security of customer asset management.

This initiative stems from the large-scale Bitcoin fraud incident that occurred at DMM in May 2024. The Financial Services Agency of Japan issued a business improvement order to DMM Bitcoin at the end of September, requiring JVCEA to issue a warning and conduct a self-examination of its response measures to leakage risks.

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