Cryptocurrency exchanges Coinbase and Kraken are reviewing the protection of digital assets after a massive hack of Binance, during which around $6.3 billion in cryptocurrency was withdrawn from the wallet. The event revealed the risks in storing and transferring money in the market. Coinbase has strengthened its mechanisms for offline storage of access keys that are not directly connected to the Internet. Kraken analyzes the circumstances of the attack and the possibilities for further protection. Binance's investigation pointed to a compromise of the infrastructure through which the transactions were confirmed. Some of the affected assets have already been frozen with the help of digital currency issuers. Market participants are calling for faster sharing of information about suspicious transactions to block stolen funds before they move on. Binance has announced its intention to cover user losses. The scale of the theft showed that even the largest sites depend not only on their barriers, but also on the speed of joint action after the attack.

Cryptocurrency exchanges Coinbase and Kraken are reviewing the protection of digital assets after a massive hack of Binance, during which around $6.3 billion in cryptocurrency was withdrawn from the wallet. The event revealed the risks in storing and transferring money in the market. Coinbase has strengthened its mechanisms for offline storage of access keys that are not directly connected to the Internet. Kraken analyzes the circumstances of the attack and the possibilities for further protection. Binance's investigation pointed to a compromise of the infrastructure through which the transactions were confirmed. Some of the affected assets have already been frozen with the help of digital currency issuers. Market participants are calling for faster sharing of information about suspicious transactions to block stolen funds before they move on. Binance has announced its intention to cover user losses. The scale of the theft showed that even the largest sites depend not only on their barriers, but also on the speed of joint action after the attack.