Definition ∞ Incident response is the systematic process of managing and mitigating the aftermath of a security breach or operational failure. It involves identifying the scope of the incident, containing its impact, eradicating the threat, and restoring affected systems. Effective incident response is crucial for minimizing damage and preventing recurrence.
Context ∞ The discourse surrounding incident response in the digital asset space is largely driven by the frequency and severity of security breaches affecting exchanges and protocols. Organizations are investing heavily in developing robust incident response plans, including dedicated teams and advanced detection capabilities. Current discussions often highlight the challenges of rapid threat attribution, the complexities of asset recovery, and the need for transparent communication with affected users and regulatory bodies during and after an incident.
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