In the ever-growing crypto market, users have greater access to advanced financial services and derivatives, while frauds related to “money laundering” and cryptocurrency scams remain on the rise.
According to the monitoring data for security incidents: In June 2021, according to incomplete statistics, there were over 36 typical security incidents in the entire blockchain ecosystem, and the overall security risk rating was HIGH. This month, DeFi is still the hotbed of typical security incidents, and the “lightning loan attack” is running rampant. In addition, exit scam/crypto fraud is also worrying and should be taken seriously.
Users’ demand for stricter risk control and improved asset security has been growing day by day. Therefore, strengthening the risk control system in the legal tender market will help the whole crypto market develop healthily and stably. In response to the illegal activities in the entire OTC market, CoinEx improves its risk control services and makes considerable efforts to safeguard user transactions. CoinEx Exchange always sticks to its commitment to maintaining the security of the entire crypto industry.
Based on its first-hand experience in dealing with these malicious threats in the past, as well as a comprehensive understanding of their impact on the industry as a whole, CoinEx has now launched an official verification channel for users to identify official identities and avoid scams so as to further consolidate and upgrade the platform’s security infrastructure.
As a major driver of blockchain technology, CoinEx firmly resists Internet fraud, money laundering, and other criminal acts. So what advantages does CoinEx have over its counterparts in terms of anti-fraud and asset protection?
First, multi-channel verification.
Huobi users can only verify the authenticity of the phone or WeChat account, and such a one-sided information query cannot provide an absolute guarantee. By contrast, CoinEx’s official verification channel enables users to verify the authenticity of the phone, email, Google and a wide range of other social network data, which is much more versatile.
Second, complete security measures.
For other exchanges, security is yet to be concretely guaranteed.
Since its establishment, CoinEx’s user-first philosophy helps it secure the trust of numerous users and become their top choice. Such success should also be credited to CoinEx’s hard work on the issue of security and risk control.
CoinEx has equipped its platform with complete preventive measures, e.g. 100% reserves and a high-speed matching engine to secure transactions; the IP address abnormal change monitoring and a sign-in reminder to safeguard users’ privacy; the real-time alert for asset changes and multi-layers verification for withdrawal to protect users’ interest; and API permissions, Two-Factor Authentication (2FA), and ID verification as the supplement to the comprehensive asset security system.
Last but not the least, the cooperation with SlowMist to improve risk control.
The most common advice for newcomers in the crypto market is that they should not trade on small little-known exchanges but start their journey from a big exchange that boasts a good reputation. The advice makes sense as there have been too many users being cheated in small crypto exchanges over the years. After all, you are the first one to count on when it comes to asset security.
To better safeguard users’ assets and improve security risk control, CoinEx has joined SlowMist Zone and released the “Security Vulnerability and Threat Intelligence Bounty Program” with a maximum reward of 5,000 USDT for serious vulnerabilities!
Having long valued anti-fraud measures, CoinEx applies a strict security risk control system and remains consistent with its commitment to asset security which, as it believes, serves as the foundation for the blockchain. Thanks to its anti-fraud risk control system, users can feel at ease with their assets under good protection.