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Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade

  • BitGo and Genesis’s service aims to protect coins from hackers
  • Thieves swiped almost $1 billion in first nine months of 2018
Safe lock code on safety box bank
Photographer: VTT Studio/iStockphoto
Updated on

Big investors who’ve soured on cryptocurrencies because of the industry’s billion-dollar theft problem will soon have a new way to trade that’s touted as a safer solution.

By the end of the month, BitGo Inc.’s customers will be able to buy or sell Bitcoin, Ether and other digital assets without the coins ever leaving cold storage -- in other words, they’ll stay on devices not connected to the internet, making them harder to steal. BitGo is offering this through a partnership with Genesis Global Trading Inc., a trading firm.