Coincheck Hack Could Change Funds Infrastructure

Japanese cryptocurrency exchange Coincheck was hacked and saw the theft of $543mn worth of customer holdings; the Japanese regulator, FSA, said it was concerned that most of the funds were kept in hot wallets online, instead of cold wallets offline; seeing that this is not the first hack of a hot wallet model the regulators might start mandating customer funds be held offline; nothing has been passed yet but the more thefts we see the more regulators will look to try and mitigate future issues. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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