Not Your Keys, Not Your Coins: How Arwen Wants to End Exchange Custodianship10

The long list of cryptocurrency exchange hacks tells the story of one of the Bitcoin industry’s biggest problems to date: Custodial exchanges are a big target for attackers and a centralized point of failure for those that rely on them. Just this year, about $200 million worth of cryptocurrency became inaccessible when QuadrigaCX’s CEO passed away, while Binance last month revealed it lost 7,000 bitcoin when its servers were hacked, a loss valued at over $40 million at the time. Over the past decade, a staggering estimate of $1.4 billion worth of crypto has been stolen or about 8 percent of all bitcoin in circulation today.

If it’s up to Boston-based startup Arwen, these types of events will soon be a thing of the past.

Original source

Add comment

Please Sign in to be able to leave comments.