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Record cryptocurrency heist raises appeal of a safer decentralised exchange

Hackers have repeatedly cracked open the virtual vaults where cryptocurrency funds are stashed, stealing billions of dollars worth of assets over the years

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Olga Kharif | Bloomberg
A more than $500 million record heist from a Japanese cryptocurrency exchange, the latest in a long line of high-profile hacks, is directing attention to a new kind of venue that makes it harder for would-be thieves. They’re not, however, impervious to attack.

Hackers typically steal money from crypto exchanges by gaining access to their internet-connected wallet, which stores the funds of customers. Hackers have repeatedly cracked open the virtual vaults where they’re stashed, stealing billions of dollars worth of assets over the years.

Called decentralised exchanges, the newfangled markets being developed or already deployed by AirSwap, EtherDelta and others sidestep that

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First Published: Jan 30 2018 | 8:52 AM IST

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