Keyur, can you tell us about how you store your wallets and such? By that, I mean that in any given day you probably only need 10% liquidity. So a good practice would be to have your active, server-accessible wallets separate from wallets containing the remainder of reserves. That major wallet should be elsewhere, such as on a computer not on your network and this computer is only turned on for 5 minutes a day in order to refill the active wallets. Also, it should be in a cage with several rabid monkeys who can only be tamed by a secret routine, such as reading them a bedtime story and giving out sedative-laden fruits. And this cage should be in a van that moves around a city 24/7. This is like that Burn Notice episode where a package was kept perpetually moving by a series of motorcycle couriers.
The computer in question should be backed up by a flash drive the size of a pill, which you repeatedly eat every few days in order to keep it in your body. The timing is perfect, I've found, to allow the backup to be only occasionally accessible depending on your regularity. If you need it in an emergency, then just eat a lot of prune juice or, in a really major emergency, find a Winogradsky column and drink it.
Then, if your site does get hacked, everyone's risk is minimized. See, I don't think many people take solace in prevention measures at exchanges any more. The more important question involves what hackers or rogue employees could obtain if given access. Please name one of the monkeys after me.
The computer in question should be backed up by a flash drive the size of a pill, which you repeatedly eat every few days in order to keep it in your body. The timing is perfect, I've found, to allow the backup to be only occasionally accessible depending on your regularity. If you need it in an emergency, then just eat a lot of prune juice or, in a really major emergency, find a Winogradsky column and drink it.
Then, if your site does get hacked, everyone's risk is minimized. See, I don't think many people take solace in prevention measures at exchanges any more. The more important question involves what hackers or rogue employees could obtain if given access. Please name one of the monkeys after me.
As far as I know, this is the exact procedure they use to protect Coca Cola's secret formula ;-)
We understand your concern though about an inside job though. That is why we follow the best practices deployed in most of corporations: split component ownership, and chain-of-command for each component. This makes it easy to pinpoint rogue elements.
- Keyur
