Cryptocurrency exchanges store private
keys on behalf of their users.
Notably, they store private
keys on behalf of their users, and in exchange, investors can trade between different cryptocurrencies with ease.
But centralized trading platforms and wallets store private
keys on behalf of their users.
Not exact matches
The
users don't have any access to their private
keys and the centralised exchanges holds the cryptoassets
on behalf of their
users.
Then, with the accumulated accounts, the hackers used a false API
key to execute trades
on behalf of users, triggering one cryptocurrency pair to spike in volume.