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South Korea Urges Crypto Exchanges to Increase Cold Storage After Binance Hack
(19 hours ago) · 1 source · Summarized by CryptoBipto
South Korean regulators have called on cryptocurrency exchanges to strengthen their cold storage practices following a reported hack of Binance. The guidance aims to reduce the risk of customer funds being compromised by keeping more assets in offline storage.
WHY IT MATTERS
When you store cryptocurrency on an exchange, the exchange holds your funds in digital wallets.
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SOURCES
- cointelegraph.com
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Cold StorageExchange SecuritySouth Korea RegulationBinance Hack