The Great Resignation: Cyber Risks in the Crypto Sector

Employees are resigning at a record pace across the United States, impacting both U.S.-based companies and global firms. Although debate still surrounds the motivation behind this trend, the impact on an organization’s risk landscape as it relates to cyber breaches has only heightened since the “Great Resignation” began in 2021. The outbreak of the coronavirus pandemic created countless challenges for organizations globally, including around the traditional management of critical data and trade secret information. The move to a remote environment or a hybrid model in the ensuing weeks and months ultimately led to many of the barriers that protected critical IT infrastructure coming down or being modified to ease the transition to remote work. This, combined with the overall increase in employee resignations, has only heightened the risk of trade-secret theft or cyber-related incidents. One sector particularly vulnerable to these risks is decentralized finance, including blockchain, non-fungible tokens and distributed ledger technology. This guest article by Libero Marconi and Graeme Buller from Alvarez & Marsal includes key considerations that crypto organizations should consider to mitigate the increased risk of information loss or data breaches, along with reactive solutions that can help organizations limit the impact of such events. See “Navigating the Intersection of Blockchain and Data Privacy Laws” (Jun. 2, 2022).

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