TREE NEWS update: Gate founder and CEO Lin Han called for the crypto industry to immediately form a security alliance with unified security standards, intrusion detection protocols and emergency response mechanisms, citing a Binance incident involving about $6.3 billion in losses. Gate also proposed a split-key vault in which private keys are distributed among the user, Gate and a recovery partner, with funds movable only if at least two parties are compromised, and a 48-hour withdrawal delay so users can freeze funds. Gate said it has flagged the relevant hacker addresses and will freeze illicit funds transferred to its platform.
Gate CEO Calls for Crypto Security Alliance, Proposes 48-Hour Vault Withdrawal Delay
AI take
The proposal reframes exchange security as a collective-action problem rather than a competitive one, using a large industry loss as the catalyst. A split-key vault with a recovery partner and a withdrawal delay shifts risk toward coordination and user response time, which matters most for holders on platforms that adopt it. Whether rival exchanges endorse unified standards and emergency protocols, or the model stays Gate-specific, is the open question worth watching.
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