Technology

Crypto’s Future Depends on Security, Ledger Exec Say

Crypto exchanges and other intermediaries such as cross-chain bridges are where the latest series of crypto hacks on internet-based “hot” wallets have been taking place. Exchanges need to put in additional security measures, said Alex Zinder, global head of hardware wallet maker Ledger Enterprises. Zinder said on CoinDesk TV’s “First Mover” show that the crypto ecosystem’s rapid growth has increased the threat of hacks and exploits, creating safety issues “that are very difficult to manage.” “The way we look at this problem set is security at the edges,” said Zinder. “The challenge is, as you build additional complexity into the ecosystem you have more intermediaries and different players.” Zinder’s spoke days after the latest hack to sweep the crypto ecosystem. On Tuesday more than 8,000 Solana blockchain hot wallets were compromised, draining at least $5 million worth of Solana-based tokens from unsuspecting users.

Full interview : Crypto’s Future Depends on Security, Ledger Exec Say.

OODA Analyst

OODA Analyst

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