The National Assembly Research Service (NARS) said cryptocurrency exchanges should start considering ways to deposit assets in a cold wallet, or offline storage. The suggestion was part of the NARS’ annual summary report of issues in the 2020 parliamentary inspections. The policy committee and the strategy & finance committee under the National Assembly suggested methods to protect crypto traders from hacking attempts.
“There should be an inspection to see if exchanges have equipment that can detect suspicious approaches to their system. In case the job is outsourced to external companies, there needs to be verification to see whether the client has a management system for monitoring,” said the report.
“It is also necessary to develop ways that prevent illegal leakage of crypto assets by limiting methods of storage for exchange customers.”
One example cited was Japan. In Jan. 2018, crypto assets saved at Coin Check were leaked. The incident provoked a heated debate in the country to think of ways to use cold wallets in managing assets.
조인디(2020.08.12) 국회입법조사처 “거래소 자산 콜드월렛으로 보관 검토”
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