At some point all the cryptocurrency is going to end up in the hands of the thieves so all they'll be able to do is steal from each other, assuming that's not the case already.
Cryptocurrency exchange BitMart has coughed to a large-scale security breach relating to ETH and BSC hot wallets. The company reckons that hackers made off with approximately $150m in assets. Security and analytics outfit PeckShield put the figure at closer to $200m. "We have identified a large-scale security breach related …
Tuesday 7th December 2021 01:37 GMT Sorry that handle is already taken.
Tuesday 7th December 2021 04:06 GMT _andrew
"Hot Wallet" == "Internet Banking"?
> "Because hot wallets are connected to the internet, they tend to be somewhat more vulnerable to hacks and theft than cold storage methods," BitMart's site says.
You know that "Internet Banking" is a thing almost everywhere, right? That's the bank that is storing your money, connected to the internet and accessible by nothing more complicated than a web browser or (for the crazy) a mobile app.
Of course real banks have real security departments, and experts who care about that sort of thing, and insurance schemes and regulations and a variety of fall-backs.
Tuesday 7th December 2021 17:17 GMT Version 1.0
Re: "Hot Wallet" == "Internet Banking"?
If it's on the Internet then it can be hacked ... I've been suggesting that El Reg offers a "security" icon as a pair of wire cutters for a while now ... but watching the world I'm going to change my suggestion; El Reg, Can we have an Axe as a "security icon" please?