BitGo CEO Mike Belshe Believes in Bitcoin Despite Bitfinex Hack
BitGo’s Mike Belshe has said that questions raised about the security of bitcoin with some suggesting that digital currencies can never be secure are wrong.
After Mt. Gox, the second biggest security breach of a bitcoin exchange took place earlier this month when the Hong Kong-based Bitfinex halted trading after hackers stole around $70 million worth of users’ bitcoins. As a result, questions about the safety of blockchain technology and the future of bitcoin quickly arose.
As the company that is the leading security platform for bitcoin and blockchain technologies that was delegated to deliver security at Bitfinex, Belshe has posted an opinion piece on theBitGo blog focusing on what he thinks needs to be done to improve services, still retaining faith in blockchain. CCN recently reported BitGo had declared that its systems were not at fault and functioned correctly during the Bitfinex hack.
According to Belshe, the recent hack at Bitfinex serves as a learning opportunity and the ideal time to learn from past mistakes.
This post was published at Crypto Coins News on 18/08/2016.