Wed 18 Jan 2023 ▪ 2.00 pm ▪
4
min read – from
The US finance guard should be irreproachable in carrying out its often delicate missions. Yet the SEC is not one to put on a pedestal. He just made a mistake that could cost some cryptocurrency miners dearly. Through his fault, sensitive data belonging to the latter would have been leaked.
Cryptocurrency miners’ personal information leaks into the hands of the SEC
After the public protests issued by politicians against the SEC, especially in the context of the FTX affair, there have been several attempts to restore the image of this American regulator. Among others, we will mention his opposition to the acquisition of Voyager Digital by Binance.US due to lack of comprehensive information, or his relentlessness towards scammers in the blockchain sector.
The Washington Examiner website revealed yesterday, Jan. 17, that the Securities and Exchange Commission unknowingly disclosed personal information of cryptocurrency miners connected to the green blockchain. About 650 names and email addresses are said to be part of his email communication with this company. In fact, an investigation was underway and the interested party had to answer all the questions of the SEC.
To say that such a mistake is punishable by law.
” The Privacy Act of 1974 […] prohibits the disclosure without consent of information about individuals that the federal government maintains in a system of record. If we store information about you in a system of records from which we will retrieve this information by personal identifier […]we will protect your information in accordance with the privacy law “, specifies the American agency on its website.
Fear of massive cryptographic hacker attacks
The exposure of personal data belonging to 650 people can be considered illegal. But in the eyes of hackers, this opens a way to breach the nodes’ territory. Such information is indeed a great opportunity for hackers to mine green cryptocurrencies.
Luckily no proven hack has been demonstrated so far. A prejudice that the Green community would not be ready to accept given the anonymous nature of the exchanges and mining promised on this blockchain.
Last year, cryptocurrency hackers were able to siphon off the equivalent of $4 billion from the cryptocurrency industry. In the event of any losses related to this inadvertent disclosure of information, the SEC will certainly be entitled to a new lawsuit. However, we are aware that the dispute between you and Ripple has not yet ended.
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The blockchain and cryptocurrency revolution is underway! And the day the impacts are felt on this world’s most vulnerable economy, against all hope, I’ll say I have something to do with it.