Gate CEO says crypto exchanges must prove they can survive a hack like Binance’s
Lin Han says Gate holds enough assets in cold storage to cover customer balances even if its hot wallets are emptied. An independent audit is underway.
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Lin Han says Gate holds enough assets in cold storage to cover customer balances even if its hot wallets are emptied. An independent audit is underway.
The unidentified attacker moved funds through ether, instant exchanges and Monero, but the victim and affected exchanges remain unknown.
The security firm found that 77% of third-quarter losses involved compromised suppliers, delayed fixes or systems outside the latest security reviews.
The Virtual Asset Technical Exchange brings together investigators, law enforcement officials, and crypto-security specialists to exchange intelligence on a wide range of crimes involving digital assets.
Some smaller hedge funds with weaker security controls may have lost funds in the targeted attack, sources said.
Bitrefill will cover the losses from operational capital.
Bitso will use Coincover’s non-custodial disaster recovery service and its risk engine to monitor outgoing transactions in real time.