Federal watchdog opens investigation into Nueva Singapur exchange after data breach

The Oriente Moderno Financial Authority announced on 30 October that it has opened a formal investigation into Nexus Digital Exchange, the second-largest fintech platform operating in Nueva Singapur, following the discovery of a data-access incident that exposed settlement records and transaction metadata. The Authority said in a statement that the breach affected approximately 12,000 accounts and occurred over a 72-hour window in mid-October before being detected by the exchange's security team.

Nexus Digital has been operational since 2022 and processes an average of 2.3 billion florins in daily cross-border settlements. The exchange's Chief Executive, Helena Cortés, issued a statement on 29 October confirming the breach and stating that 'no user funds were accessed or transferred.' She added that the company had immediately notified the Financial Authority and had engaged an external cybersecurity firm to conduct a full forensic audit.

The Financial Authority's investigation will examine whether Nexus Digital's security architecture meets the minimum standards set out in the Federal Fintech Security Ordinance, adopted in 2023. The Authority's Director, Kenji Yamamoto, said in a statement that the inquiry 'will determine whether the exchange's protocols are adequate to the volume and sensitivity of data it holds.' He did not specify a timeline for the investigation's completion but said the Authority would publish preliminary findings by 15 December.