DMG Blockchain Says Client Assets Secure After Binance Breach

DMG Blockchain Solutions Inc. said client assets remained secure after Binance’s security incident and outlined safeguards intended to prevent one compromised device from enabling an unauthorized transaction. In its Oct. 31 statement, DMG said neither the company nor its affiliates had been affected. It described controls built around restricted access, separated duties and multiple levels of transaction approval. DMG said the measures are designed to keep one compromised device from giving a user the authority to initiate, approve or complete an unauthorized transaction. The statement gave no client-asset balances or details of any Binance exposure or custody arrangements.