CandleFocus Ripple CTO Breaks Down Mystery of Warm Wallets: Details
2025-02-22
Author: Content Editor
Ripple CTO David Schwartz explains the concept of a warm wallet, a type of cryptocurrency wallet that is an intermediate between a hot wallet and a cold wallet. Warm wallets are more secure than hot wallets and more convenient to access than cold wallets. They require human intervention to transfer funds. The term gained attention after the recent crypto hack on the Bybit exchange, where $1.46 billion in assets were transferred from a cold wallet to a warm wallet through a sophisticated attack. Warm wallets combine the transaction speed of hot wallets with the security of cold wallets. Some custody providers use a combination of cold and warm storage for their assets.
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