“The maximum amount
of funds stolen occurred at the end of the bull market”— Exchange Security Report Shows
TokeInsight released its Exchange Security Report to give you every important detail you need to know in the crypto exchange industry. The report provides insights into exchanges’ network security, risk response mechanisms, accounts and storage settings.
✅ Security incidents and loss of funds surrounding exchanges have frequently occurred in various scale. However, as cryptocurrency exchanges pay more attention to security issues and invest more into their internal systems, the overall solution has become increasingly more mature.
✅In general, users believe that both the largest exchanges and emerging rising exchanges with significant accurate trading volumes are safer. Notably, industry users currently have a high sense of trust with the largest exchanges.
✅ Users hold a basic understanding of security issues surrounding exchanges, but the security is not the only factor for users when choosing to trade on an exchange.
✅Security detection shows that most exchanges have strong routine security defense mechanisms in place.
✅The largest exchanges and most popular exchanges have emergency mechanisms established. Some such as emergency funds, insurance, real time alert detection, and others in place to ensure the security of user assets in case of an attack.
✅ Aside from internal improvements on internal security mechanisms, crypto exchanges have also enhanced security measures with the help of external third-party service providers.
✅ The security rating results of some exchanges are as follows (see text for all rating results and rating descriptions):
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TokenInsight is an independent third-party data analytics organization whose focus is to provide accurate information and ratings on companies developing in the blockchain industry. TokenInsight is dedicated to providing accurate ratings, research, and analytics that contribute to intelligent financial decisions and market transparency.