Changpeng Zhao, about QuadrigaCX: never have CEO carry private keys

02 Feb, 2019 | Updated: 02 Feb, 2019
by Alberto Arnaldo
Exchange
Changpeng Zhao, about QuadrigaCX: never have CEO carry private keys

After Gerald Cotton, founder and CEO of Canadian crypto exchange QuadrigaCX sadly passed away on the 15th of January, a complex situation has started for users of the platform. The deceased founder was the only person with the keys to the storage wallets, making it extremely difficult to now recover those funds.

Changpeng Zhao, Forbes cover man in February 2018 and CEO of Binance, has twitted the following about the impasse in which users and managers of the QuadrigaCX are currently involved:

Read more: Canadian crypto exchange QuadrigaCX owes $190 million to customers

The recommendations also shed light into some of the security diligences that CZ approves of, such as splitting private keys. The display of common sense also extends to avoiding the CEO carrying private keys.

If regular traders and hodlers have already been involved in threats and safety incidents concerning their access information, it seems even more necessary to ensure that the keys to the funds of the millions of Binance users are not held by a single person.

Twitter has been replying to CZ´s latest thoughts, with many expressing their happiness for his good health and general safety policies.

Read more: CZ elaborates on Binance AI data security saving victim from 46 BTC sim swap hack; CZ: Binance Chain is “much faster” and “cheaper” than Ethereum

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Read more about:BinanceChangpeng Zhao

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