After Binance’s $6.3 Billion Hack, Austin Campbell Calls for a 24-Hour Clock on Billion-Dollar Crypto Moves

Crypto hacks reach into the billions partly because the industry designed its systems around technology risk and never adopted the basic financial risk controls used in traditional markets, according to Zero Knowledge Group founder and managing partner Austin Campbell . “Crypto never built itself for security outside of the tech vertical,” Campbell said on Unchained’s Bits + Bips in an episode recorded Nov. 2 , adding that he thinks “part of why the hacks have been so bad is that you built a system that was optimized around the tech concerns without ever thinking about the financial risk concerns.” He spoke four days after Binance lost about $6.34 billion from its hot wallets on Oct. 29, according to the exchange’s Nov. 3 post-mortem .

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