EU cyber rules put crypto wallet makers on 24-hour reporting clock
Crypto wallet providers must submit an early vulnerability report within 24 hours and a full notification within 72 hours of exploits, or risk administrative fines of as much as $17.3 million.
The EU is telling cryptocurrency hardware and software wallet providers that they have 24 hours from awareness to report actively exploited bugs or severe security vulnerabilities affecting their products.
The measure is part of the EU’s Cyber Resilience Act (CRA), which took effect on Friday, according to an announcement from the European Commission.
Manufacturers must submit an early warning for severe vulnerabilities within 24 hours, followed by a full notification within 72 hours. A final report will be required 14 days after corrective or mitigating measures are available and within one month for severe incidents.