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BitFlyer USA Fined $1.2M by NYDFS for Not Meeting Cybersecurity Requirements
The crypto exchange has proposed a plan to make it compliant with the state's cybersecurity regulations by the end of the year.
Updated May 3, 2023, 2:19 p.m. Published May 3, 2023, 5:43 a.m.
Crypto exchange bitFlyer USA was fined $1.2 million by New York State Department of Financial Services (NYDFS) for failing to meet the state's cybersecurity requirement, the regulator said on Wednesday.
The financial regulator said bitFlyer USA failed to meet the state's cybersecurity regulation, despite having a license to operate in New York.
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However, NYDFS acknowledged bitFlyer USA's efforts to step up its cybersecurity. The exchange presented the regulator with a remediation plan, which aims to make bitFlyer USA compliant with the states cybersecurity laws by the end of the year.
BitFlyer is the latest in a series of crypto companies that have been been fined by New York's financial regulator for various violations. In January, Coinbase (COIN) paid $50 million to settle charges that it let users open accounts without having conducted sufficient background checks, while Robinhood Markets' (HOOD) crypto division paid $30 million last year for anti-money laundering and cybersecurity violations.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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