Gate CEO says crypto exchanges must prove they can survive a hack like Binance’s
Summary
Following a major security breach at Binance, the chief executive of Gate states that digital asset platforms need to demonstrate their ability to withstand such incidents. Lin Han explains that the company maintains sufficient offline reserves to fully reimburse users if online funds are compromised, while an external audit is currently taking place.
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.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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