Multiple Trading Platforms Upgrade Security Measures After $6.3 Billion Binance Theft

TechFlow news, October 31: According to the Financial Times, after Binance suffered a $6.3 billion theft, multiple crypto trading platforms are strengthening security measures and explaining the safety of customer funds.

Coinbase Chief Security Officer Jeff Lunglhofer said the company has made partial adjustments to its cold storage system as a precaution. Gemini has added alerts and restrictions for fund transfers, while Kraken said it is closely monitoring developments and platform services are operating normally.

OKX CEO Star Xu called on the industry to establish a real-time security incident notification mechanism, strengthen coordinated monitoring of suspicious funds, improve rapid response capabilities to potential attacks, and enhance defenses against emerging AI-driven security threats.

In addition, Coinbase Vice President of Product Will Megson said the company is significantly upgrading phone protection measures to help users guard against scam calls.

Source: TechFlow