Bitcoin, Crypto currency, Blockchain

To Hack: Japanese Bitcoin exchanges, new rules want to

Japanese Bitcoin exchanges have joined together to take security measures against future attacks. The new rules will have little or no influence on the security of the exchanges. A fight against windmills?

It was the famous straw that broke the camel’s back. 17. September stole Unknown crypto-currencies to the value of US $ 59 million of the crypto-exchange Zaif. Including the stately sum of 5.966 Bitcoin, as well as some of the reserves of the Bitcoin Cash and MonaCoin. First of all, the operator of the stock exchange thought that it was a server error. The next day, however, they sobered up, that it had to have a Hack traded. Finally, alert the operator to the authorities – up to now lacking any trace of the lost Bitcoin.

New regulations to Bitcoin theft contain

These incidents counter better in the future, has found now a group of Bitcoin-exchange operators. You want to create new rules. As reported by the Japan Times, wants to introduce the currencies of the “Japanese Virtual-Currency Exchange Association” in the future, a limitation for online embedded Crypto. The exact restrictions, it is apparently not yet agreed. However, the members of the exclusion to consider at the moment, an upper limit of 10-20 per cent of the users of deposits. This means that Bitcoin-undertake exchanges in the future, the Rest of the crypto currencies to be stored otherwise. Currently, she is working on the rules still, then the Japanese financial Supervisory authority, to submit to the Revision.

Symptom control without problem-solving

Thus, the merger of the operators to respond to a series of attacks on crypto-exchanges. Already in January of this year, Coincheck has been attacked. A total of 523 million NEM were estimated to be lost. A limitation of the online storage crypto such incidents would restrict currencies in the future only, but not prevent it. The security of the exchanges is not increased thereby, ultimately, the old Problem remains: crypto-currencies can still be so sure of that, if they are traded on unsecure centralized exchanges, you can steal attackers from there at any time. How you can solve this Problem – partly – is here.

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