Home » Crypto Trading Firms Discuss the Ways to Prevent Hacks and Scams

Crypto Trading Firms Discuss the Ways to Prevent Hacks and Scams

Over 30 cryptocurrency trading firms has gathered together to discuss ways to prevent hacks and scams in the industry. The round-table event took place in Chicago on May 7.
news - Crypto Trading Firms Discuss the Ways to Prevent Hacks and Scams

Over 30 cryptocurrency trading firms has gathered together to discuss ways to prevent hacks and scams in the industry. The round-table event took place in Chicago on May 7. 

The event was organized by Crypto OTC Roundtable Asia (CORA), a “loose association” of crypto businesses, according to Bloomberg. 

Creating a list of entities involved directly or indirectly in criminal activities such as money laundering and drug trafficking was one of the ideas. Another route could be to set standards for verifying identities of customers and their sources of funds.

The group reportedly plans to meet again in the near future to move forward on the discussed ideas. Notably, on the day of the event itself, hackers stole 7,000 bitcoin (worth over $40 million) from cryptocurrency exchange Binance.

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