Risk Management in Blockchain Finance BFC Practice Questions (Page 6)

Questions 26–30

1. 26application · medium

   A blockchain-based payment processor has experienced a security breach where an attacker compromised a private key used to sign transactions. The company needs to respond immediately. Which action should be part of the incident response plan to minimize further damage?

   • AImmediately transfer all funds to a new wallet using the compromised key.
   • BDelete all logs related to the breach to protect customer privacy.
   • CRevoke the compromised key and rotate to a new key, then notify affected customers.
   • DKeep the compromised key active to monitor the attacker's actions.
   Reveal Solution Discussion Select an answer first
2. 27foundation · easy

   Which regulatory risk in blockchain finance arises from the conflict between the immutability of blockchain records and the right to erasure under data privacy laws?

   • AData privacy compliance risk
   • BOperational risk
   • CMarket manipulation risk
   • DCounterparty risk
   Reveal Solution Discussion Select an answer first
4. 28foundation · easy

   In an incident response plan for a blockchain financial institution, which step involves identifying and containing the affected systems to prevent further damage?

   • APost-incident activity
   • BContainment, eradication, and recovery
   • CPreparation
   • DDetection and analysis
   Reveal Solution Discussion Select an answer first
5. 29application · medium

   A blockchain-based payment system experiences a ransomware attack that encrypts the servers hosting the private keys. The company has a backup of the keys in a secure offline location. What is the most important element of their business continuity plan to ensure they can resume operations quickly?

   • AA public relations plan to manage customer communications.
   • BDocumented procedures to restore the keys from the offline backup and verify their integrity.
   • CA plan to pay the ransom to regain access to the servers.
   • DA policy to keep the backup keys on the same servers for convenience.
   Reveal Solution Discussion Select an answer first
6. 30expert · hard

   A blockchain-based supply chain finance platform has a business continuity plan that relies on a single cloud provider. The platform has experienced a regional outage that affected its nodes. The platform's recovery time objective (RTO) is 4 hours, but the cloud provider's estimated recovery time is 6 hours. Which action would BEST address this gap?

   • APurchase additional compute capacity from the same cloud provider to speed up recovery.
   • BIncrease the RTO to 6 hours to match the cloud provider's recovery time.
   • CKeep a backup of the blockchain data on a local server and restore it after the outage.
   • DDeploy nodes in a second cloud provider in a different region to achieve active-active redundancy.
   Reveal Solution Discussion Select an answer first