Upbit, South Korea’s largest crypto exchange, will move almost all customer assets into cold wallets after attackers breached its Solana hot wallets in late November. Dunamu, Upbit’s parent company, announced on Wednesday, Dec. 10, that the crypto exchange is planning to move over 99% of its digital assets to cold wallets. South Korea’s Virtual Asset User Protection Act requires all crypto exchanges to hold at least 80% of their digital assets in cold wallets. While Upbit already holds 98.33% of its cry ...

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Core Insights - IBM has launched Digital Asset Haven, a platform aimed at helping banks, governments, and corporations manage and secure digital assets as institutional adoption increases [1][2] - The platform is developed in collaboration with Dfns and integrates IBM's infrastructure with Dfns' custody and key management capabilities, providing a comprehensive solution for the digital asset lifecycle [3][6] - The launch comes amid rising corporate Bitcoin holdings and increasing concerns over the complexity of managing digital assets and the security risks associated with them [2][5] IBM Digital Asset Haven - Digital Asset Haven connects with over 40 public and private blockchains and includes tools for identity verification, anti-money laundering, and yield generation [4] - The platform aims to reduce the compliance and regulatory burden for institutions [3] - It is set to launch in late 2025, addressing vulnerabilities in the digital asset space [6] Security Concerns - There is a notable increase in crypto-related hacks and thefts, with over $2.17 billion stolen from crypto services in 2025 according to Chainalysis [5][7] - IBM's platform incorporates Hardware Security Modules (HSMs) and multi-party computation for cryptographic key management to mitigate single points of failure [8] - The need for improved institutional security practices is emphasized as threat actors have upgraded their capabilities [7]

Financial Security Concerns - Individuals' money, including cryptocurrency, may not be entirely secure [1] - Cryptocurrency traceability raises potential security issues, suggesting a need for encryption [1] Geopolitical and Banking Risks - Banco Sabadell in Spain faces accusations of discrimination against Israeli clients due to a new royal decree related to the "genocide in Gaza" [1] - Israeli clients in Spain report frozen bank accounts, potentially linked to business ties with specific regions [1]

Core Insights - WazirX, once a leading exchange in India, will resume operations on October 24 after the Singapore High Court approved its restructuring plan, marking the end of a turbulent period following a significant security breach in 2024 [1][5][6] Group 1: Resumption of Operations - Trading will resume in phases over four days, starting October 24, with approximately 25% of all listed tokens becoming available each day, achieving full functionality by October 27 [3] - All trading will begin with zero fees for a minimum of 30 days to encourage user engagement and rebuild confidence [2] Group 2: Security and User Trust - WazirX has partnered with BitGo to implement insured, institutional-grade storage solutions, enhancing fund safety and transparency [7] - The exchange has completed various preparatory actions, including token swaps and a rebranding campaign, to facilitate a smooth relaunch [7] Group 3: User Impact and Recovery - The relaunch addresses the uncertainty faced by over 150,000 users after a major security breach where approximately $234.9 million was stolen [5] - WazirX plans to distribute tokens to creditors within 10 business days and will issue Recovery Tokens as part of its revival strategy [8]