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EU
2026-09-14 11:51:35

EU Cyber Resilience Act Takes Effect With Tight Breach Reporting Rules for Crypto Wallet Providers

The European Union’s Cyber Resilience Act, or CRA, officially took effect on Sept. 11, setting stricter incident-reporting obligations for providers of crypto hardware and software wallets sold in the EU market. Under the new rules, firms must file an early warning report within 24 hours after discovering an actively exploited vulnerability or a severe security flaw, then submit a full notification within 72 hours. After corrective or mitigation measures are taken, manufacturers must provide a final report within 14 days, while severe incidents must be fully reported within one month. The European Commission said the reporting framework is meant to better protect consumers and businesses from cyber threats. The rules apply to all products with digital elements offered on the EU market and form part of the bloc’s broader cybersecurity strategy. Penalties in the final draft are substantial: companies that fail to comply with Articles 13 and 14 may face administrative fines of up to €15 million, roughly $17.3 million, or 2.5% of global annual turnover, whichever is higher. Firms that submit incorrect, incomplete, or misleading information may be fined up to €5 million. The measure comes after several security incidents involving wallet providers. Trezor said on Sept. 4 that a data breach at logistics vendor ShipMonk affected about 67,000 U.S. customers, above the initial estimate of 14,000. This week, Trezor and BitBox also warned users about phishing emails disguised as urgent security notices. In June, Layer-1 blockchain network Zilliqa said a flaw in its Ledger app could allow attackers to recover private keys using public on-chain data.

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EU Cyber Resilience Act Takes Effect With Tight Breach Reporting Rules for Crypto Wallet Providers
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