Mega Matrix Corp. 10-K Cybersecurity GRC - 2024-03-18

Page last updated on July 16, 2024

Mega Matrix Corp. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-18 16:10:39 EDT.

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10-K filed on 2024-03-18

Mega Matrix Corp. filed a 10-K at 2024-03-18 16:10:39 EDT
Accession Number: 0001213900-24-023493

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity The Company operates in a dynamic environment with evolving cybersecurity threats. Our business relies heavily on the secure operation of our technology infrastructure and the protection of user data. A successful cyberattack could have a significant negative impact on our business, including: ● Data breaches: Unauthorized access to user data, including nicknames, email addresses, country, and identification numbers, could lead to reputational damage, regulatory fines, and legal action, a loss of users and loss of revenue. ● Disruption of service: A cyberattack could disrupt our service, preventing users from accessing content and impacting our revenue. ● Loss of intellectual property: Cybercriminals could steal our proprietary content or intellectual property, harming our competitive advantage. ● Costs associated with responding to a cyberattack: Costs of remediation, legal fees, and regulatory fines, could be significant. The security and privacy of our users and their data is our priority, and we proactively manage cybersecurity risks to ensure robust protection for our platform. We integrate cybersecurity risk management into our overall organizational strategy. Our Board of Directors oversees risk management, including cybersecurity. Key elements of our framework include: ● Risk Assessment and Identification: We conduct regular assessments to identify, evaluate, and prioritize potential cybersecurity threats and vulnerabilities. We utilize various methods like vulnerability scanning, threat intelligence feeds, and penetration testing. ● Technical Safeguards: We deploy a multi-layered defense system with various technical safeguards to protect our infrastructure and user data. This includes firewalls, intrusion detection and prevention systems (IDS/IPS), data encryption (at rest and in transit), and access controls based on the principle of least privilege. ● Incident Response and Recovery: We have documented and well-rehearsed incident response procedures to effectively respond to, contain, and remediate security incidents. These procedures ensure timely detection, investigation, and recovery, minimizing potential damage and ensuring user privacy. ● Mapping data flows and user locations: We understand where user data is stored and transmitted, enabling us to identify relevant privacy laws and to implement suitable user data protection. ● Third-Party Risk Management: We implement a rigorous process for vetting and securing our relationships with third-party vendors. This includes security assessments and contractual agreements outlining specific security measures they must adhere to. ● Security Awareness and Training: We regularly conduct comprehensive security awareness training programs for all employees. These programs educate them on cybersecurity best practices, threat identification, and reporting procedures. Despite our efforts, there is no guarantee that we can completely eliminate the risk of cyberattacks. Our cybersecurity measures may not be effective against all threats, and new vulnerabilities may emerge that we are unaware of.

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