- The SEC accidentally leaked the Green firm’s private information.
- As per the SEC, leaking personal information is a violation of privacy laws.
The Securities and Exchange Commission in the United States has kept a keen eye on the cryptocurrency market. The regulatory authorities are ensuring no errors are unseen. And now it seems to have leaked the personal details of numerous crypto miners associated with the blockchain startup Green.
Furthermore, the government agency’s inadvertent publication of personal information violates privacy laws. According to the SEC’s website, any personal data taken for investigation purposes through the agency is protected under the Privacy Act of 1974. And, the legislation restricts the sharing of information collected by a federal agency without sufficient approval. And making this email is a violation of privacy.
SEC spokesman told the Washington Examiner that
“Protecting the privacy of all parties is crucial, and the SEC is probing this problem.”
SEC Releases Private Data
For many years, the SEC has been privately monitoring Green blockchain-based firms. This research involves interviewing many customers of the company who acquired products from the company and collecting feedback. And participating in an activity with the SEC to answer all queries.
According to a Washington Examiner report on Jan 17, the SEC leaked 650 names and email addresses in an email communication with Green as part of an inquiry.
And, the data held in the email is more than sufficient to identify and hack the nodes or computers. And they generate Green crypto tokens through mining, which is the use of high-powered computers to validate virtual coin transactions.
Following this, no hack was found on Tuesday, and the Community underlines that they preserve consumer privacy. It is due to blockchain allowing users to trade and mine tokens securely. And that it believes the disclosure of personal identifying information is destructive to that objective.
Additionally, SEC has taken over so many lead roles in crypto firms in 2022. And they are involved in the case investigation of the FTX exchange collapse. As well as the series of Ripple cases.
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