Digital Asset Custodians in Securing Crypto
Photo: Author's own, at the Buddhist temple in Genting Highlands, Malaysia, 2018 As a longtime Crypto and (Crypto security) enthusiast, I was really interested when I came across news that Indian crypto exchange WazirX has now partnered with BitGo Trust, a regulated digital asset custodian. This partnership aims to improve security of funds on WazirX's platform and rebuild user trust. Here is some background, in July 2024, India's one of the largest crypto exchanges WazirX suffered a major cyberattack that led to nearly $235 million in digital assets being stolen ( Explained: The WazirX Hack ). This breach occurred despite WazirX implementing advanced safeguards (multi-signature wallets, address allowlisting, and hardware key storage), this highlights how even pretty cautious and secure exchanges remain vulnerable. The incident was a w...