CoinEx Enhances Security Measures with Latest Anti-Attack System Update

CoinEx Updates Security System

As the popularity of cryptocurrency grows, so does the concern for security, especially with the increasing number of hacking incidents causing significant losses. CoinEx, a cryptocurrency exchange, recognizes the importance of addressing this issue and has implemented an upgraded security system called Asset Protection.

In the cryptocurrency world, the exposure of private keys poses a threat to exchanges, blockchain projects, cross-chain bridges, and individual users. In 2022 alone, there were 306 security incidents in the cryptocurrency market, resulting in losses totaling $10.1 billion. Hacking remains the most common form of attack, constituting 37% of all incidents.

CoinEx updates system
Number and injury of crypto attacks in 2021 and 2022

DeFi projects are the primary targets, with hackers stealing up to $5.5 billion. This poses a growing concern for the entire cryptocurrency ecosystem and the market as a whole.

CoinEx updates system
Damage resulting from cryptographic attacks on DeFi and cross-chain bridges. Photo: DefilLama

CoinEx acknowledges the collective responsibility of participants in the cryptocurrency industry to address security challenges. Cryptographic attacks not only impact the resources of projects and users but also jeopardize future growth prospects.

CoinEx just recently established a new process referred to as asset protection, therefore taking the protection assault warning process to a new degree. This internet site brings together all of CoinEx’s protection innovations, which include offline information storage methods, multi-signature protocols, multi-copy backups, backup strategies, and so forth., to assure peace of thoughts. Complete safety for consumer assets.

CoinEx’s protection web page also applies a lot of state-of-the-art protection measures, which include wallet process monitoring, multi-signature management mechanism, genuine-time monitoring of uncommon deposit and withdrawal transactions, and self-alert of suspicious transactions or suspicious actions.

The exchange has a dedicated security team utilizing advanced monitoring systems and precise risk assessment to detect and prevent threats promptly. Recognizing the importance of collaboration, CoinEx has formed a strategic partnership with security firm SlowMist and plans to build similar relationships with other blockchain security entities.

Security in the cryptocurrency market is a multifaceted issue that requires serious attention and collaboration from all participants. Users are urged to strengthen their security practices by using secure passwords and exercising caution when navigating the internet to prevent potential threats.

Established in 2017, CoinEx is a global cryptocurrency exchange dedicated to streamlining trading. The platform offers a range of services, including spot and margin trading, futures, swaps, AMM, and financial management solutions, catering to over five million users in more than 200 countries and regions.

Built with the initial concept of fostering a respectful and transparent crypto trading environment, CoinEx is devoted to eliminating financial barriers and providing users with a secure and convenient trading experience.

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Chi Do
Chi Do
Chi Do is a content writer at CoinMinutes, responsible for creating most of the content on the website, including news related to Bitcoin (BTC), Ethereum (ETH), Blockchain, Decentralized Finance (DeFi), and more. With a keen interest in cryptocurrencies since the 2020s, Chi has acquired extensive experience and knowledge in this field. Chi holds a Bachelor's degree in communication from Academy of Journalism and Communication in Vietnam.

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