ReportedreservesStatement 1767
Alex Tobol, chief technology officer at Telegram-based crypto wallet Walt, said holding billions of dollars in hot wallets is not inherently unusual for an exchange of Binance’s size.
Alex Tobol, chief technology officer at Walt, said holding billions of dollars in hot wallets is not inherently unusual for an exchange of Binance's size.
This line is our short summary of the quote below. The quote is the evidence.
From this source: Binance’s $6.3B hack leaves questions over hot wallet safeguards, with all of its statements.
Other statements from the same source
Reportedroot causeStatement 1832
Jonathan Riss said transaction limits enforced by the application requesting a signature can be bypassed if that application is compromised, while limits enforced independently by the signing system may still restrict transfers.
Transaction limits enforced by the application requesting a signature can be bypassed if that application is compromised, Riss said. Limits enforced independently by the signing system may still restrict transfers.
ReportedreservesStatement 1765
Idan Ofrat, co-founder and chief product officer at Fireblocks, said exchanges typically keep enough funds in hot wallets to cover a few days of expected withdrawals, often representing a low single-digit percentage of assets under management.
Idan Ofrat, co-founder and chief product officer at Fireblocks, said exchanges typically keep enough funds in hot wallets to cover a few days of expected withdrawals, often representing a low single-digit percentage of assets under management.
ReportedamountStatement 1759
Jonathan Riss said the $6.3 billion figure represented the cumulative value of assets affected across 10 blockchains.
Riss said the $6.3 billion figure represented the cumulative value of assets affected across 10 blockchains.