An incident reporting framework is a structured system that outlines the procedures for documenting, analyzing, and communicating security breaches, operational failures, or other adverse events within an organization. Its purpose is to ensure timely response, facilitate investigation, and enable organizational learning from incidents. This framework supports continuous improvement in security and operational resilience. It provides a consistent approach to managing unexpected events.
Context
In the digital asset sector, a robust incident reporting framework is vital for maintaining trust and security, particularly given the immutable nature of blockchain transactions and the high financial stakes involved. Clear protocols for reporting hacks, exploits, or service outages enable rapid response and minimize potential damage across both centralized exchanges and decentralized protocols. Regulatory bodies are increasingly mandating such frameworks to enhance transparency and accountability.
The DORA compliance deadline of January 17, 2025, mandates a systemic upgrade of ICT risk and third-party oversight across all EU financial operations.
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