DMG Says Client Assets Are Secure and Highlights Layered Transaction Controls

TL;DR DMG said on October 31 that it and its affiliates were unaffected by the Binance incident. The company described restricted access, separated duties and multiple transaction approvals. Asset exposure and the authority to move funds are different parts of a security assessment. DMG Blockchain Solutions said on October 31 that it and its affiliates had not been affected by the Binance security incident and that client assets remained secure. The company described restricted access, separated duties and multiple approval levels intended to prevent one compromised device from authorizing an unauthorized transaction. The issuer statement brings two distinct questions into view: where a business has exposure, and how it controls the movement of assets. An incident statement has a defined scope A company reporting that it was unaffected gives investors information about its assessment of a particular event. That is useful when a disruption at one service prompts questions about losses or interrupted access elsewhere. The statement should still be read for what it establishes. Being unaffected does not, by itself, disclose every counterparty balance, contractual relationship or poten...