Gate CEO Lin Han called for a shared crypto security alliance after a reported Binance hack involving about $6.3 billion in losses. Gate said its own systems were not affected. It flagged addresses linked to the hack and said it would freeze any illicit funds moved onto its platform.
Gate also proposed a vault system that would split each private key among the user, Gate and a recovery partner, so moving funds would require access to at least two shares. A proposed 48-hour withdrawal delay would give users time to freeze funds even if two shares were compromised.
