OneKey Founder Warns of Potential Cyberattacks on BlackRock ETF

OneKey founder Yishi Wang has expressed concerns regarding the security of BlackRock’s iShares Bitcoin Trust. He believes the $62 billion fund may be on the target list for North Korean hacking groups.

The warning follows large-scale cyberattacks attributed to North Korean operations, such as the incident involving the Binance exchange. Coinbase serves as the primary custodian for the BlackRock ETF and holds the majority of Bitcoin fund assets in the United States.

Coinbase reported that it has adjusted its cold storage systems as a preventive measure. The company blocked transfers to compromised wallets and strengthened its internal infrastructure security following recent industry incidents.

Investigations into previous attacks revealed sophisticated techniques involving the manipulation of transaction interfaces. Hackers managed to trick authorized operators into approving malicious transfers without needing to extract private keys directly.

The centralization of custody within large financial institutions intensifies the debate over infrastructure resilience against persistent threats from state-sponsored groups. Monitoring these risks remains essential to ensure the integrity of managed digital assets.