Security Standard Proposed for Bitcoin Exchanges and Wallets
A group composed of developers and security professionals has proposed a set of rules aimed at standardizing security protocols used by companies that handle or store digital currencies for their clients. The proposal, created by the Cryptocurrency Certification Consortium (C4) and formally unveiled on 11th February during the DevCore bitcoin development conference in Boston, Massachusetts, aims to provide an industry-level standard by which exchanges and wallet providers can operate. The Cryptocurrency Security Standard (CCSS) draft proposal calls for 10 standardized approaches to key and....
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According to the description available online, the Cyber Security Graduate Certificate provides a professional, technical, and policy-oriented view of the challenges created by rapid advancements in information technology. In very short span of Bitcoin’s life, a number of exchanges have been hacked and manipulated by cyber criminals. To address these security issues, Stanford has decided to study topics such as altcoins, Bitcoin transactions, consensus protocols, cryptocurrency, elliptical curves, hash functions, mining strategies and incentives, proposed Bitcoin regulations, and Zerocoin....
He isn’t surprised attacks happen. Crypto exchange security is once again in the news after hackers breached KuCoin. But this shouldn’t surprise people as exchanges are vulnerable by design, according to ByBit CEO Ben Zhou. Zhou told Cointelegraph that exchanges act as a single point of failure. As a centralized web application, exchanges are susceptible to the same security issues as all other websites. Security becomes even more important as investors and traders are increasingly taking exchanges to task to protect funds. The vast majority of crypto exchange servers and storage networks,....
The U.S. Treasury bureau proposed a rule that would require cryptocurrency exchanges to submit reports on withdrawals to “unhosted wallets.” The post FinCEN Proposes KYC For Withdrawing Cryptocurrency To Private Wallets appeared first on Bitcoin Magazine.
Many have called the long-rumored rules an existential threat to peer-to-peer transactions. The Treasury has released its long-awaited proposal to restrict money services businesses, including U.S.-registered crypto exchanges, from dealing with self-hosted wallets.In a Friday evening announcement, the Treasury's Financial Crimes Enforcement Network, or FinCEN, announced proposed rules requiring registered crypto exchanges to verify the "identity of their customers, if a counterparty uses an unhosted or otherwise covered wallet and the transaction is greater than $3,000." The rule is....