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Crypto exchanges call for quick moves to bolster defenses after Binance heist

Latest articles - The Japan Times·about 21 hours ago
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Crypto exchanges have called for quick action to bolster defenses after a record $6.3 billion was stolen from Binance. | REUTERS

Crypto exchanges are taking quick action to bolster their defenses and urging greater industrywide information-sharing after a record $6.3 billion hack of Binance exposed their vulnerability just as they become more embedded in mainstream finance.

Coinbase said it made adjustments to its systems that store cryptocurrency keys offline “solely out of an abundance of caution,” while Kraken said it was monitoring industry incidents for lessons it could apply to its defenses.

But the industry will need to move urgently, analysts and industry executives said, as U.S.…

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