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Through integration with Bitso's multiparty computation (MPC) infrastructure, Coincover will provide non-custodial disaster recovery, giving the exchange protection against events such as hacking or lost access. In addition, Bitso will use Coincover to monitor outgoing transactions in real-time.
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“Latin America has the highest preference for centralized exchanges amongst crypto users in the world. While this is a sign of the industry's growth in the region, it means these exchanges are increasingly becoming the targets for hacks and scams,” said Digby Try, senior vice president at Coincover, in a statement.
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