The U.S. Federal Trade Commission launched its first cryptocurrency investigation, Bloomberg reports. The probe stems from a BitMart cryptocurrency exchange breach in December 2021 that led to clients losing between $150-200 million. The agency is looking at what the two companies that operate BitMart told users about the security of their data and if the operators complied with the Gramm-Leach-Bliley Act, which “requires financial institutions to safeguard sensitive customer data.” The FTC and companies declined to comment on the investigation.
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