The head of Franklin Crypto has urged regulators to focus on prosecuting bad actors rather than penalizing victims following the recent Binance hack. In an interview with CNBC, the executive emphasized that targeting those responsible for the breach would better protect the crypto ecosystem.
The Binance hack, which occurred earlier this week, resulted in significant financial losses for users. The crypto exchange has since taken steps to mitigate the damage and enhance security measures. However, the incident has raised concerns about the safety of digital assets on centralized platforms.
The Franklin Crypto head's comments come amid growing calls for stricter regulations in the crypto space. While some advocates argue for tougher rules to prevent such incidents, others warn that overregulation could stifle innovation and growth in the industry.