The industry is moving toward fixing the private key vulnerability issue, just not evenly, Wish Wu, co-founder and CEO of Pharos, said. Roughly $16.69 billion has been lost to crypto hacks, with about 40% tied to stolen private keys rather than flaws in blockchains or smart contracts. Security experts say most losses stem from key-management and operational failures in systems, people and third-party tools, not from broken cryptography. The industry is turning to multi-party computation, accoun…
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