Ellipal, a prominent player in the cryptocurrency wallet market, has made a significant shift in its service offerings by announcing the discontinuation of its hot wallet services. This strategic move follows a recent incident involving the alleged theft of XRP, prompting the company to prioritize user security through cold wallet technology. The publication provides the following information: this change is aimed at enhancing the overall safety of users' digital assets.
Ellipal Ceases Hot Wallet Operations
Effective October 31st, Ellipal will cease all hot wallet operations, urging current users to transfer their assets to new wallet addresses. The company emphasizes that this decision is aimed at enhancing the security of its users' funds, as cold wallets are generally considered more secure against online threats.
Support and Future Innovations
In light of the transition, Ellipal reassures its users that support will remain readily available to assist with any potential disruptions. The company is committed to innovating within the cold wallet space, aiming to provide enhanced security features and services moving forward.
In a notable contrast to Ellipal's recent decision to discontinue hot wallet services for enhanced security, Bitget Wallet has expanded its cryptocurrency payment offerings in Asia. This strategic move aims to increase adoption and compliance in the region. For more details, see read more.
