Crypto ownership and custodial wallets: Owning without owning?
March 31, 2025 – Over the last decade, year over year, hackers have stolen billions of dollars in cryptocurrencies. Last month, another of the world’s largest cryptocurrency exchanges was hacked in what has been called the largest crypto heist in history. The exchange was Bybit, based in Dubai, and the hackers, which according to a public announcement by the FBI are linked to North Korea, ran away with $1.5 billion in Ethereum (ETH).
Unsurprisingly, crypto holders fear being swept up by the next hack and seek government safeguards and fortified technology. After all, unlike cash deposits or securities, digital assets held on an exchange are not afforded protections by the Federal Deposit Insurance Corporation or the Securities Investor…
