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Gate CEO: crypto exchanges must prove they can survive a hack like Binance's
Gate CEO Lin Han says the exchange holds enough assets in cold storage to cover customer balances even if hot wallets are emptied. An independent audit is underway.
HighRisk Media Newsroom, , 1 min read · Читать по-русски
Gate CEO Lin Han said crypto exchanges must show they can survive a hack on the scale of the Binance incident. According to CoinDesk, he said Gate keeps enough assets in cold storage to cover customer balances even if its hot wallets are completely emptied.
Audit status
An independent audit is already underway, according to CoinDesk. The source does not provide details on its timing, the auditors involved or the scope of assets being checked, so the depth of the review cannot be assessed from the available information.
Sources
Prepared by AI from the sources above and checked against them. Spotted a mistake? Write to @highrisk_team.
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Crypto exchangesProof of reservesGateCold storageSecurity