Gate CEO Calls for Crypto Security Alliance After $6.3B Binance Hack

Lin Han, founder and CEO of Gate, has called for the formation of a cryptocurrency security alliance to standardize procedures to prevent and eventually deal with the aftermath of security incidents similar to the $6.3 billion hack that Binance faced on Thursday. Following the multibillion-dollar security incident faced by Binance, the crypto industry is already trying to prevent and prepare for the next high-level crypto hack. Lin Han, founder and CEO of Gate, an exchange ranked among the top 10 digital asset venues by volumes traded, highlighted the need to standardize and coordinate security procedures to manage incidents like the one Binance faced, which encompassed about $6.3 billion in losses .

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