Vitalik Buterin warns crypto exchanges must focus on survival after Binance hack

Ethereum co-founder Vitalik Buterin has warned that cryptocurrency exchanges must prioritize surviving cyberattacks over competing for market share during the next two years, as recent security breaches expose weaknesses in centralized systems. Summary Ethereum co-founder Vitalik Buterin warned that crypto exchanges should prioritise survival over competition for the next two years as major security breaches continue to expose weaknesses in centralised systems. Buterin said recent crypto hacks have increasingly targeted user interfaces and centralised infrastructure, while smart contract exploits have become less common over the past 18 months. He warned that continued attacks, particularly those linked to North Korean hackers, could prompt regulators to impose stricter security requirements on cryptocurrency exchanges and custodians. Buterin urged companies to adopt a defensive approach to security and recommended multisignature wallets and stronger safeguards to protect customer funds. On Ethereum’s roadmap, Buterin said AI, zero-knowledge proofs and formal verification could accelerate network upgrades, while Layer 2 networks should focus on specialised applications. In an inter...