EU Crypto Wallet Makers Face Fines for Slow Vulnerability Reports

The European Union has introduced new cyber rules that require cryptocurrency wallet providers to report vulnerabilities within strict timeframes.

Under the EU's Cyber Resilience Act (CRA), manufacturers of crypto wallets must submit an early warning for severe vulnerabilities within 24 hours and a full notification within 72 hours if their products are actively exploited.

If they fail to comply, wallet providers risk administrative fines of up to $17.3 million.