Share this article
EXMO Exchange Taps Ledger Vault to Help Secure User Assets After 2020 Hack
Using Ledger Vault's "battle-tested" custody tech, the exchange says security will be enhanced for users as well as other benefits.
Updated May 9, 2023, 3:16 a.m. Published Mar 9, 2021, 3:10 p.m.
Cryptocurrency exchange EXMO, which suffered a security breach late last year, has upgraded its platform to boost security for users' assets.
- The U.K.-based exchange said Tuesday it has upgraded to incorporate infrastructure from Ledger Vault, a move it says will mean a "more sophisticated" custody system, increased stability and faster withdrawals.
- “Ledger Vault has its protocols battle-tested all the time. So we believe that with this solution our security needs will be best addressed,” said Sergey Zhdanov, chief operating officer at EXMO.
- The December hack saw an estimated $4 million in cryptocurrency stolen and moved through the Poloniex exchange, EXMO said soon after the event.
- The platform has since appointed "entrusted operators" to manage transfers to and from cold storage, and has also passed the System and Organization Controls (SOC) 2 Type 1 examination, a security and privacy audit.
More For You
Alcoa is in advanced negotiations to sell its dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG.
What to know:
- Alcoa is in advanced negotiations to sell its dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG, with the deal expected to finalize by mid-2026.
- Though the site stopped producing aluminum in 2014, its intact, heavy-duty electrical infrastructure and direct access to carbon-free hydropower make it...
