Karpeles expressed that the Mt. Gox hack could have been completely prevented with the modern tools available today, specifically mentioning Hierarchical Deterministic wallets and custodians as key innovations that would have safeguarded the exchange's fund management.
He stated, "In retrospect, if we had tools like custodians and HD wallets, we wouldn't have stored private keys on the servers. We could have provided public seed access to an accountant for real-time monitoring of transactions, which would not only have prevented the Mt. Gox hack but also allowed us to detect suspicious activity much earlier."
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