Alerts Cobo CEO By CoinEdition

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Possible Exposure Of Private Keys Of Ethereum Addresses: Warns Cobo CEO
  • The Shanghai Upgrade for Ethereum is generating attention, but questions may affect the future of ETH.
  • The head of Cobo alerts that private keys of staked ETH addresses may be vulnerable.
  • Validators are still backing the upgrade, and investors are exhibiting positive sentiment for ETH.

The upcoming Shanghai Upgrade for Ethereum has caused some interest amongst the crypto community, but it could also harm the future of ETH. The CEO of Cobo has cautioned that private keys of staked ETH addresses could be subjected to exposure.

According to Shenyu, the head of Cobo, a digital asset custody provider, the private keys of Ethereum accounts that have staked ETH may be vulnerable to being revealed. This news has caused anxiety in the community, and steps will need to be taken to reduce the potential damage.

In order to reduce the risk of private key exposure, the CEO of Cobo has suggested that centralized staking services examine their private key storage procedures, check the status of authorized personnel, and draw up emergency plans. This could help prevent any potential harm to the Ethereum community.

In addition, Shenyu has warned of a similar incident during the launch of Arbitrum’s AirDrop, where multiple private keys were exposed. This further highlights the importance of implementing preventive measures to protect private keys and stop any potential harm to the Ethereum community.

Despite the increasing worries, validators on the Ethereum network are still backing the upcoming upgrade. According to data from Staking Rewards, the number of validators on the network has increased by 3.08% in the past 30 days.

Number of validators on Ethereum as per Staking Rewards

As of now, there are 563,803 validators on the Ethereum network, collectively earning $2.34 billion in revenue. This indicates that the community is still confident in the future of Ethereum, despite the potential risks associated with the Shanghai Upgrade.

ETH ATM Implied Volatility as per Greeks Live

Moreover, Investors are also exhibiting positive sentiment toward ETH, possibly due to the reduction in Ethereum options’ implied volatility (IV). According to Greeks Live, the IV for Ethereum has decreased by 8% in the past two weeks. A decrease in IV for Ethereum suggests that the market views the price of Ethereum as less risky and uncertain.

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