⚡ Yuan’an News | After Binance’s theft, regulators repeatedly stress one simple security rule: hot wallets and cold wallets
South Korea’s financial regulators want the country’s cryptocurrency exchanges to store more customer assets in cold wallets—offline storage that hackers cannot access over the internet. The requirement comes after last week’s $6.3 billion theft from Binance, in which all the stolen funds came from the exchange’s internet-connected hot wallets. Follow the money: the tactics behind Binance’s $6.3 billion heist, and a suspected $106 million theft. South Korea’s Financial Services Commission held an emergency meeting with major exchanges on November 2.
Source: ForexLive
November 3, 11:21 | Beijing time
South Korea’s financial regulators want the country’s cryptocurrency exchanges to store more customer assets in cold wallets—offline storage that hackers cannot access over the internet. The requirement comes after last week’s $6.3 billion theft from Binance, in which all the stolen funds came from the exchange’s internet-connected hot wallets. Follow the money: the tactics behind Binance’s $6.3 billion heist, and a suspected $106 million theft. South Korea’s Financial Services Commission held an emergency meeting with major exchanges on November 2.
Source: ForexLive
November 3, 11:21 | Beijing time