CertiK urges dollar caps on crypto exchange hot wallets
Cybersecurity experts are pushing for a new standard in how exchanges manage risk. The idea is simple: put a hard dollar cap on the funds sitting in hot wallets, which are more vulnerable to online attacks. This shifts the conversation from whether an exchange uses cold storage to how much they are willing to lose in a worst-case scenario.
This thread explores whether these limits should be public knowledge. Some argue that transparency would build trust, while others worry it could paint a target on exchanges. It is a debate about balancing security through obscurity with the market's demand for open books.
Cybersecurity firm CertiK has argued that crypto exchanges should impose dollar limits on the funds held in their hot wallets. The company told Cointelegraph that while cold storage is a useful measure of online exposure, it should not be treated as a standalone security score.
Do you think exchanges should publicly disclose their hot wallet dollar limits?
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Source: Cointelegraph https://cointelegraph.com/news/crypto-exchanges-need-dollar-caps-on-hot-wallets-certik
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