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Title: How Should an Exchange Respond? Post by: 00ph8al on February 27, 2014, 08:39:41 PM How should an exchange legitimately and fairly respond after a hacking incident resulting in theft of funds or unauthorized trades?
All we seem to see are examples of what not to do. I am really interested in a discussion of how things should be done. There should be an industry standard expected response. It should be as simple as halt trading and transfers, investigate, roll back to before, restore and resume. Watching bitcoin and other cryptos through several major incidents this last year and this is definitely not the case. Can we compare crypto exchanges to forex and stock exchanges or should we expect them to respond differently? What can we do to insulate crypto exchanges from each other to prevent one from tanking any specific crypto-currency on the broad market? |