The February Bangladeshi central bank heist that resulted in the theft of more than $100 million from its account with the Federal Reserve Bank of New York could have been thwarted by a 3.6-inch piece of computer hardware — so say the tech entrepreneurs behind KeepKey, a physical bitcoin “wallet” with beefed-up security designed to keep out thieves. The business is self-funded and started less than a year ago, writes our Kevin Dugan.
“Blockchain security has advanced much quicker than you would see in traditional banking,” Darin Stanchfield, KeepKey’s CEO, told On the Money. If the Fed used the device, he said, “the credentials are presented to the Fed in order to move money, and those credentials don’t leave the device.”
Hear that, Bill Dudley?