Crypto data breach: under the GDPR, compensation starts at around €100, according to Germany's top court

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.After the data breaches at Wagyu and Chainalysis, crypto investors are asking about their rights. Germany's Federal Court of Justice accepts the mere loss of control as damage; what matters are access requests, evidence and secure custody.Add as a preferred source on GoogleFollow on Google NewsIf a crypto provider reports a data breach, you as a customer in Germany have two rights that apply immediately: under Art. 15 GDPR you may find out which data is stored about you, and under Art. 82 GDPR you can claim compensation. Germany's Federal Court of Justice (BGH) has ruled that the mere loss of control over your own data is enough for this, and it expressly approved compensation in the region of €100 for that case. More is available if you can prove concrete damage. The question is very practical right now. At the end of October two services from the crypto industry confirmed data breaches, and both involve information that is more sensitive for crypto investors than an email addr...