After Binance robbery: The Crypto Valley is preparing for further cyberattacks
In Switzerland, the damage caused by the Binance cyber attack has so far been limited. Nevertheless, cyber attacks are a growing threat to the crypto industry.
The cryptocurrency industry is reeling from a massive hack at Binance, the world's largest crypto exchange, but so far, the damage in Switzerland appears to be limited. Binance has replenished the stolen crypto assets, worth over $6 billion, from its own funds, and customers' account balances have been restored. Swiss financial institutions, such as Swissquote, Postfinance, and Maerki Baumann, which offer access to crypto assets, were not affected by the hack and did not experience any trading restrictions.
The incident has highlighted the growing threat of cyberattacks to the crypto industry, with experts warning that storing large amounts of cryptocurrency on exchanges can be risky.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
