Recent news reports on cyber attack on a foreign decentralized finance platform, which resulted in tremendous loss of clients’ digital assets, have raised concerns over cybersecurity. The SEC is therefore urging digital asset business operators to emphasize the importance of cybersecurity on a continuing basis and to assign a responsible entity to oversee the matter to ensure that they can provide services to investors continuously and clients’ digital assets are securely safeguarded. The SEC...
misappropriated the client’s money by forging the client’s signature, revising the client’s significant information to access the client’s mobile banking account and transferring money from the client’s account
had misappropriated the client’s money by forging the client’s signature, revising the client’s significant information to access the client’s mobile banking account and transferring money from the
loss. Moreover, {A} advised the client to wait for a quota of IPO shares and expect such shares to compensate for the loss incurred in the client’s derivatives trading account. {A}’s behaviors above were
Following the announcement of BX (which formerly operated in digital asset exchange business) that its business operations will completely shut down on 3 April 2020 which means it will stop servicing clients who want to reclaim their assets and will lay off all employees,SEC found out that clients’ digital assets which remained under control or in possession of BX were transferred thereafter to other out-of-control wallets without client’ instructions. That actions incurred losses to other...
customer’s order according to rules prescribed in this Notification; or (2) sale of securities pursuant to the customer’s order where the customer has not yet delivered possession of such securities to the
customer’s decision-making and providing appropriate information; and 5) charge of service fees, which, regardless of how they are determined, must be informed to the customer prior to the service