Private keys, not smart contracts, caused 40% of crypto's $16 billion hack losses. Here's whats being done.

CoinDesk·

Private keys, not smart contracts, caused 40% of crypto's $16 billion hack losses. Here's whats being done.

60-second summary

The private key vulnerability issue is being addressed, with 40% of crypto's $16 billion hack losses attributed to it, rather than smart contracts. Industry leaders are working to fix this issue, but progress is uneven.

The industry is moving toward fixing the private key vulnerability issue, just not evenly, Wish Wu, co-founder and CEO of Pharos, said.