Ledger leaked the data of a quarter million customers who are cryptocurrency users. In many cases, the leaked data contained sensitive information like their home addresses.
This should be a wake up call for cryptocurrency companies to develop privacy focused policies. The obvious measure that Ledger should have taken is to purge the data eventually and not rely on the GDPR compliant storage which, in Ledger’s case, was nothing but security theater.
Cryptocurrency companies should prefer disposing of unnecessary and potentially harmful information and resist indefinite and indiscriminate data storage. If data storage requirements are in place by jurisdictions where these companies conduct businesses, companies should look for alternatives to dispose this high risk data.
Privacy should be the number one priority for customers.
Published by: Saxemberg on Dec. 22, 2020