Binance Hack: Why Choose a Regulated Crypto Platform in France

Home » Crypto news » Exchange news » Binance hack: why choose a crypto platform regulated in France?

https://cryptoast.fr/hack-de-binance-pourquoi-choisir-une-plateforme-crypto-regulee-en-france/

This article is brought to you in commercial collaboration with Coinhouse (learn more)

As you certainly know, Binance has not obtained MiCA approval and has no longer offered its services in France since July 1, 2026. Since this date, only platforms approved as crypto-asset service providers (PSCA) can operate there with specific obligations in terms of internal control, IT security and custody of assets.

Thursday's hack illustrates what these rules seek to avoid. According to Binance, the compromise of a single workstation was enough to submit unauthorized withdrawals, a single point of failure that segregation of roles and internal controls requirements are designed to eliminate.

The other difference is responsibility. Binance promises to cover all losses, but this commitment is its sole decision. Another platform might very well have not done the same. For a PSCA, liability in the event of a loss attributable to the platform is an obligation included in the regulations, within the limit of the market value of the cryptocurrencies lost.

Finally, the MiCA regulation segregates funds: clients' cryptos are separated from the platform's own assets, which can neither lend them nor use them on its behalf. In the event of insolvency, its creditors cannot claim anything from these assets.

PSCA approved by the AMF since May 7, 2026, the French platform Coinhouse keeps more than 70% of its clients' crypto-assets offline. The means of access to these funds remain disconnected from the Internet, beyond the reach of a remote attack.

This conservation works in multi-signature: each operation requires the intervention of several authorized people, and according to Coinhouse, no employee or workstation can, alone, move these funds. This is precisely the scenario of the attack against Binance that this device aims to block.

Hot wallets, necessary for rapid withdrawals, are partly secured by DFNS MPC (Multi-Party Computation) technology. The private key is fragmented between Coinhouse and its service provider, and each signature requires the joint validation of several signatories, so that no unilateral action is possible.

The platform finally has professional liability insurance from MMA IARD, which covers the damage that Coinhouse could cause to its clients in the course of its activities, and allows it to react quickly in the event of a cyberattack to limit its impact.

Machine-translated from French