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Avoiding QuadrigaCX’s $190 Million Disaster: How Do the World’s Largest Crypto Exchanges Store Funds?

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Canada’s largest crypto exchange QuadrigaCX lost more than $190 million worth of user funds and is unable to reimburse its users. As CCN reported on February 1, the founder and CEO of QuadrigaCX passed away in India with sole control over the company’s cold wallets containing more than $150 million in cryptocurrencies like Bitcoin and Ethereum, and $40 million in cash stored with a third party. How do the world’s largest digital asset exchanges such as Binance and Coinbase store funds to avoid a tragic situation like QuadrigaCX? CEO Should Never Have Sole Access to Crypto on an Exchange A

Avoiding QuadrigaCX’s $190 Million Disaster: How Do the World’s Largest Crypto Exchanges Store Funds? by CCN

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* First published on ccn.com

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