Commodity Futures Trading Commission Chairman Michael Selig told CNBC that the estimated $6.4 billion Binance hack justified federal oversight of offshore cryptocurrency exchanges. He said the attack did not compromise the Ethereum blockchain or its smart contracts, but exploited a vulnerability believed to have been introduced through a laptop. Binance subsequently identified additional points of compromise, while TRM Labs said the platform’s signing infrastructure had been compromised. The CFTC is proposing an option for these exchanges to register with the agency and comply with the cybersecurity standards applied to US markets. The theft, the largest in cryptocurrency history, led Binance to set aside $6.34 billion to cover losses, while the Secret Service and FBI opened investigations.
Source: Read the original article
