Ren’s core team holds the keys to nearly $160M in bitcoin in a single wallet. The team says that’s part of its decentralization roadmap

Quick Take

  • Cross-chain token transfer protocol RenVM has garnered criticism from the crypto community after a report from competing protocol Wanchain found it is storing all user funds in a single wallet controlled by Ren’s core team
  • The Ren team has defended its operations, saying it is working towards decentralization in phases to reduce security risks and allow the team to quickly counter threats of an attack

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