Coinspeaker
CoinDCX Learns from WazirX Hack, Implements Decentralized Custody Solution
In a major development, the Indian crypto exchange CoinDCX introduced the world’s first decentralized crypto custody solution learning from the latest incident of the WazirX hack. As a result, its users will get complete and direct control over their crypto assets.
Thus, per the announcement, 15 million CoinDCX users will be able to retain control over their digital asset holdings without having to move their funds off the platform. Usually, crypto exchanges store users’ crypto funds across hot and cold wallets that are usually vulnerable to attacks.
With this new feature in place, CoinDCX users will get a blockchain wallet assigned that stores funds outside the exchange’s infrastructure. Thus, it significantly reduces the exposure to crypto hacking risks. Furthermore, users will also be able to transfer their assets back to the exchange at any point of time.
This new feature sets
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