Historical retrospective · Security
The Coincheck incident put exchange custody controls under scrutiny
Japan’s Financial Services Agency responded to the January 2018 Coincheck theft with inspection and business-improvement orders for crypto exchanges.
The event highlighted how hot-wallet exposure, governance and operational controls can matter as much as consensus security.
It accelerated regulatory attention to custody and exchange risk in one of the largest crypto markets.
A secure blockchain cannot protect assets held in an exchange wallet whose keys or procedures are compromised.
Primary source
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