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.
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 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.