Industry leaders at Hong Kong’s Fintech Week are searching for solutions to crypto crime in the wake of Binance’s historic hack, with over US$3 billion in stolen assets still allegedly in the hands of North Korean hackers.
“You have to be able to treat every end point and every server as a possible place that might be compromised and work on the principle that it might be compromised,” said Tim Way, global head of banking initiatives at digital asset infrastructure firm Fireblocks, during an interview on Monday.
He highlighted unauthorised signatures as one potential security failure and stressed the importance of catching them, because “once it’s gone to the blockchain, it’s hard to unpick it”.
