Major incident classification is a systematic process for categorizing and prioritizing significant events that disrupt critical systems or operations, based on their severity and impact. This classification helps organizations respond effectively, allocating appropriate resources and expertise to resolve the issue promptly. It distinguishes between routine problems and events requiring urgent, high-level attention to minimize damage and restore functionality. This framework is essential for effective risk management.
Context
In the digital asset sector, major incident classification is crucial for managing security breaches, network outages, or significant market disruptions. News reports often detail how exchanges or blockchain projects handle such events, including communication protocols and recovery efforts. Regulators are increasingly focused on requiring crypto service providers to have robust incident response plans and clear classification schemes to protect users and maintain market stability.
We use cookies to personalize content and marketing, and to analyze our traffic. This helps us maintain the quality of our free resources. manage your preferences below.
Detailed Cookie Preferences
This helps support our free resources through personalized marketing efforts and promotions.
Analytics cookies help us understand how visitors interact with our website, improving user experience and website performance.
Personalization cookies enable us to customize the content and features of our site based on your interactions, offering a more tailored experience.
