Jan. 3, 2023, 5:05 AM
2022 saw high mark of litigation, but viability is uncertain
Crypto exchanges, wallets, phone service providers targeted
Lawsuits against cryptocurrency exchanges, digital wallet providers, and
mobile service companies following cyberattacks reached a new high in
2022, as hacking victims increasingly test unproven legal claims to
recoup their crypto losses.
At least 50 individual lawsuits and proposed class actions have been
brought since 2017 by victims—and occasionally companies—against
entities they blame for failing to protect their crypto assets from
hackers, a Bloomberg Law analysis of federal court dockets found. Fewer
than 10 suits were being filed annually before the total jumped to 17 in
2021 and rose to 20 in 2022, the data show.
https://news.bloomberglaw.com/privacy-and-data-security/crypto-hack-lawsuits-rise-as-theft-victims-try-untested-claims
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