alt Hacker NewsThe hack is publicized for at least a hour, but from reporting I saw they still continue to drain funds as for now. I wonder why large CEX do not have any safety measures for this kind of hacks, they could withdraw everything to newly generated wallets and minimize damage that way. It is certainly not the first time CEX wallets get hacked.
Replies
vessenes • yesterday at 10:12 PM
There are lots of measures in place at these exchanges - the rub is that cold storage is by design slow. To service withdrawal requests in a timely fashion a percent is kept “warm” or hot and used to process withdrawals. Usually this is where the leaks happen.
moralestapia • today at 3:31 AM
Yeah, they should have a way to move all funds into a new wallet so guys like this one don't have to go one by one ...
You don’t even have to do that, have deposits go to offline keys directly, that way there’s only ever cold > hot wallet movement and a big deposit can’t cause your hot wallet to be too risky.