An Illinois judge has granted a motion to stay proceedings in a lawsuit against cryptocurrency exchange Coinbase, pending a ruling in the appellate court. The lawsuit, filed in May, alleged that Coinbase’s collection of faceprints for its KYC requirements violated the Illinois Biometric Information Privacy Act. Under the law, violators may be required to pay damages up to $5,000 for each instance.
In May, Coinbase disclosed a major data breach where customer support contractors accessed account data for users in exchange for bribes. The contractors, based in India, were later fired. The individuals responsible for the breach attempted to extort $20 million worth of Bitcoin from Coinbase, prompting lawsuits alleging mishandling of personal data. The event highlighted the need for enhanced data protection measures.
Read more at Cointelegraph.com
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