Report: Many security experts expect more than 20% of exchanges to be hacked before the summer of 2020

A report released by digital asset fund Adamant Capital on April 18 showed that the fund conducted a survey of 13 well-known bitcoin security experts in July 2018. In response to “What is the most likely cause of catastrophic property damage to third-party Bitcoin custodians currently operating?”, the top three answers are: lack of security expertise (84%), procedures are not Rigorous (77%), insufficient audit (46%). Then, the experts predicted that within two years, the proportion of the three institutions, such as the custodian, the exchange, and the encrypted hedge fund, would be hacked. The forecast shows that the most worrying type of institution is the exchange, and most experts expect that more than 20% of the exchanges will be hacked before the summer of 2020. Although cryptocurrency is considered to be the least risky, there are still seven experts who predict that 10-20% of the industry's custodians will suffer financial losses due to hacking before the summer of 2020.