To tighten the internal rules of the cryptocurrency exchange
Reuters reports reveal that the Japanese government has asked cryptocurrency exchanges to tighten internal rules when managing crypto assets using "cold wallets" that are not connected to the Internet Yes.
In modern times where there are many reports of illegal spills of cryptocurrency, a safer asset management method is required.
In the case of the "illegal outflow of cryptocurrency" that occurred last year in the exchange of cryptocurrency, the main target was cryptocurrency stored in "hot wallet" managed with being connected to the Internet. The government and the Japan Cryptographic and Currency Exchange Business Association (JVCEA) have called for “restricting customer assets managed by hot wallet and strictly managing private keys”.
The common solution to this problem is to use a "cold wallet" that can store cryptographic currency "more secure" by not connecting to the Internet. , Recently, new problems have emerged even when using cold wallets.
At QuadrigaCX, a major Canadian cryptocurrency exchange, the sudden death of the company's CEO, who managed the secret key, resulted in a cryptocurrency equivalent to approximately $ 150 million (approximately 16.8 billion yen) stored in the cold wallet. Cases have been reported that they can not be pulled out.
The Reuters report also explains that the increased use of cold wallets to manage cryptocurrencies raises the risk of theft by people in the company, and the results of the FSA survey " It has also been reported that cryptographic currency exchange vendors have not made rules such as "replacing personnel regularly".
As information from related parties, Reuters requires the FSA to make improvements to vendors who have problems in order to prevent such "injustice by human beings inside the company" and "obstacles associated with ordinary business". Reportedly asked for tighter internal rules when managing cryptocurrency with Cold Wallet.
Although cold wallets are highly resistant to external cyber attacks, etc., "the task of moving assets becomes complicated" and "the need to thoroughly manage secret keys" etc. There is also a problem with
Overseas, distributed exchanges (DEX) etc. have also been launched to solve the problem of such customer asset management, and the users of the exchange use their own wallets to manage cryptocurrency. An environment in which you can trade is provided.
SBI Virtual Currency also offers services such as lending a hardware wallet so that customers can securely store their own assets.
In the future, there will be a need for a service that can manage crypto asset transactions smoothly while managing client assets safely in this way.
● Amanpri's cryptocurrency exchange stores 95% of the 24 hours in a multi-sig cold wallet.
We partner with key custodians to separate and manage your assets securely.
We will pool 5% of our monthly sales for possible theft. In the event of theft the pool funds for compensation allow 100% protection.
We will always operate with security at the forefront of the times.
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