Record crypto heist raises the appeal of a new type of exchange

PORTLAND: A more than US$500mil 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.