"Through integration with Bitso's multiparty computation (MPC) infrastructure, Coincover will provide non-custodial disaster recovery, giving the exchange protection against events such as hacking or lost access."
"Latin America has the highest preference for centralized exchanges amongst crypto users in the world. While this is a sign of the industry's growth in the region, it means these exchanges are increasingly becoming the targets for hacks and scams," said Digby Try, senior vice president at Coincover.
"According to data from Immunefi, more than $900 million has been lost to hacks and fraud in crypto this year, with $572 million stolen in the second quarter."
"Bitso was founded in 2014 and operates in Mexico, Brazil, Argentina and Colombia. The company claimed to have 8 million customers, 1700 institutional clients and more than 500 employees."
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