According to CoinMeta, UBS Group CEO Sergio Ermotti stated at the Global Financial Leaders Investment Summit organized by the Hong Kong Monetary Authority on Tuesday that as the frequency of cyberattacks in the banking industry continues to rise and their methods become increasingly sophisticated, the importance of preventing cyberattacks is no less than, and even exceeds, that of traditional credit risk and market risk management. He pointed out that cyber risks are growing "exponentially," which is "the price that must be paid for all these innovations and digitalization processes." In this context, a good governance mechanism, clear division of responsibilities, and rapid response capabilities are of paramount importance. He emphasized, "Today, cybersecurity has almost become a core issue in bank risk management. I believe this is true for all banks."