Binance hack exposes need for stronger security and staff training

The Binance hack has underscored the need for stronger cybersecurity training, information sharing and cooperation to freeze stolen cryptocurrency across the industry. Defending against sophisticated state-backed attackers requires exchanges to protect both their systems and the people who can grant access to them, according to TRM Labs global head of policy Ari Redbord. In a November 2 interview on CoinDesk's Public Keys, Redbord attributed the Binance attack to North Korea and outlined the challenges facing the industry's response. He said an attack capable of breaching Binance could happen to any cryptocurrency business.