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Following the sudden death of its co-founder and CEO, Gerald Cotten, in December 2018, Quadriga, Canada’s largest cryptocurrency exchange, is unable to gain access to about $145 million of bitcoin and other digital assets. Quadriga reports that Cotton stored the digital assets in a “cold wallet” on his encrypted laptop and repeated attempts by his widow to gain access to the laptop have proven unsuccessful. Quadriga has been forced to stop trading on its platform,…
Quadriga “Loses” Keys to Stored Digital Assets Quadriga, Canada’s largest cryptocurrency exchange, is unable to gain access to about $145 million (USD) of bitcoin and other digital assets following the sudden death of Gerald Cotten, its co-founder and CEO, in December 2018.  According to Quadriga, Cotten stored those digital assets in a “cold wallet” on his encrypted laptop and repeated attempts by his widow to gain access to the laptop have proved unsuccessful.  Additionally, details…
Tuesday, December 4, is officially “E-Discovery Day” and Reed Smith is doing its part to participate. Join us as we host a free one–hour webinar: “Discovery crossfire: Debating the controversial issues in E-Discovery.” The program, scheduled for 12-1 p.m. ET, will feature debates on five controversial e-discovery issues: Obligations of employers to search employee personal devices for relevant information; Defensible data disposal when litigation is pending; Responsibility for discovery problems with data stored in the…
Nearly every state in the United States requires notification when certain personal information is lost, stolen, or misused. However, the many state laws vary in subtle but crucial respects, making it difficult to get to a bottom line quickly. Reed Smith’s Information Technology, Privacy & Data Security practice is thrilled to release a first-of-its-kind tool designed to help companies clarify their notification strategy in response to a data loss incident. Breach RespondeRS guides companies through…
The European Commission has published its draft adequacy decision on the EU-U.S. Privacy Shield, the proposed data transfer framework that would replace the defunct Safe Harbor program. The draft adequacy decision formally supports the view that the proposed EU-U.S. Privacy Shield will ensure an adequate level of protection for the transfer of personal data from the EU to U.S. companies which enlist in the new program. The draft decision also provides full details of the…
In the latest step toward finalising a replacement for the defunct Safe Harbor program, the European Commission has published its draft adequacy decision, formally supporting its view that the proposed EU-U.S. Privacy Shield will ensure an adequate level of protection for the transfer of personal data from the EU to U.S. companies which enlist in the program. It also introduces a range of enhanced rights and redress mechanisms for EU citizens. Once finalised, an adequacy…
Last week, New York Attorney General Eric Schneiderman announced that he would propose a new data security law in his state that would require companies to take increased safeguards for the protection of personal information. The bill, if passed, would broaden the scope of information that companies would be responsible for protecting, and would require stronger technical and physical security measures for protecting information. Specifically, the bill would apply to all entities doing business in…