Custody remains the weak spot after $6 billion exchange hack, Michael Geike notes

Custody remains the weak spot after $6 billion exchange hack, Michael Geike notes
Exchange hack exposes custody vulnerability

A $6 billion exchange hack has occurred, with Bitcoin moving less than 5%.

Michael Geike, co-founder and CEO of Advanced Blockchain AG, stated that while protocols performed as expected, custodians did not, highlighting custody as the ongoing weak spot in the sector.

Geike has previously commented on developments in the crypto sector, noting Vitalik’s integration of privacy features in AI agents to address private payments. In equities, MSCI recently announced it will exclude companies without operating businesses from its Global Investable Market Indexes. These topics reflect ongoing attention to structural risks and policy changes across digital asset and traditional markets.

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