There is an Alarm in the Altcoin Allegedly Passed into Justin Sun’s Hand According to the latest information, digital asset custody and security company BitGo announced that all operations of Wrapped Bitcoin (WBTC) have been transferred to Justin Sun and TRON ecosystem-affiliated BiT Global.

In a statement on Twitter, BitGo shared, “BitGo is pleased to announce that the WBTC business has been moved to the world’s first multi-jurisdictional and multi-institutional custody platform through a unique partnership and joint venture with BiT Global. This upgrade will take place within 60 days from today, without any interruption or disruption in service. WBTC customers will continue to benefit from the same quality of service that WBTC has provided to the community since 2019.”

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However, there are concerns during the transition process. Following BitGo’s announcement, MakerDAO’s Risk Management Team recommended that WBTC be removed from the system if new integrations with BiT Global fail to meet security standards. This recommendation was discussed at a recent governance forum, underlining that updated custody arrangements need to be thoroughly evaluated to ensure they meet the stringent security and reliability criteria required by MakerDAO.

*Not investment advice.