BlockTwits reporting live at Crypto Expo Asia 2022 in Singapore. Charles Turner, the Managing Director at Malca-Amit UK, gives a speech about security needs for innovation.
Starting off with a statistic, Charles points out that the amount of crypto stolen in 2021 totalled USD$3.2 billion, which is equivalent to almost 6% of Tesla’s entire revenue for the 2021 financial year.
He also shares a security checklist on how to prevent our crypto assets from being stolen.
Here is the checklist:
1. Secure your digital assets with a cold storage set up
2. Ensure that the company protecting your assets is insured
3. Always ensure that your private key backups are securely stored
4. Never give anyone your seed phrase
5. Always generate your private keys in a secure place
Lastly, Charles thinks that innovation needs security, and one of the best ways to do so, is to insure our crypto assets.
Reported by: [BlockTwits] Nell