Lykke Changes Ethereum Trading to Centralized
Lykke Exchange has successfully changed the operational mode to centralized for ethereum trading wallets. The seamless transition took place on January, 3. Ethereum funds stored in users’ multisignature trading wallets were transferred to a centralized hotwallet. The change does not affect Lykke Wallet UX, the trading process in the app remains the same.
To mitigate the security risks we have taken the following measures:
- 90% of clients funds are kept in cold storage.
- Encrypted signatures for the multisig hotwallet are stored on separate dedicated servers.
- Trading storage is in an isolated private network with encryption and high security level.