With Users First, CoinEx Builds An Anti-fraud Safety Net to Protect Users’ Assets

According to data, the blockchain industry has seen hundreds of security incidents so far, with a total loss of nearly $15 billion. Blockchain-based virtual currencies, with the majority short of anchored and true value, have found themselves riding a price roller coaster, while pyramid selling, fraud, and other associated illegal activities have been soaring in recent years.

Hacker attacks and backdoor frauds have dealt a severe blow to everyone in the blockchain industry. How to secure assets has become the most pressing and urgent problem to be solved.

“We are the Platform Risk Management Center. Your account is at risk”, “We need your cooperation to remove the risk in your account”, “You need to download XXX for video authentication”, “You need to provide your email address so that we can send you a link to remove the risk”… As recent feedback from multiple users to CoinEx reveals, those are among typical tricks adopted by criminals, in which they posed as CoinEx staff to commit fraud and induce users to complete the transfer and other operations via phone, email, social network, etc.

CoinEx has always been committed to protecting user privacy, and will not disclose any user information to the outside in any form. Nor will it ask you for confidential information such as account passwords, text messages, and Google authentication codes by whatever means. Its officials will not request you to deposit, withdraw or transfer funds in any form either.

In addition to efforts to reinforce the platform's security, CoinEx has also constantly cooperated with other partners in security.

Having noticed the above frauds, CoinEx has launched an anti-fraud tool (the official verification channel) that reminds users to be vigilant in publicity and helps users carefully identify fraudulent pyramid schemes. With its security infrastructure reinforced, users’ assets can be efficiently secured.

The official verification channel provides a summary of CoinEx’s internal information. CoinEx will verify the authenticity of the information provided by users, according to a summary of internal data, so as to alert users to security risks, if any.

You can perform all operations on the CoinEx official website or its official APP. If you receive any suspicious text messages, phone calls, or emails, please feel free to contact the official customer service for verification. You can also send CoinEx a ticket on the official website to provide more details.

CoinEx has always closely monitored and tracked frauds, the most common financial crime, in order to protect the reasonable interests of users. Recently, the market has witnessed a number of crypto asset scams that offer what fraudsters described as high and fast returns. CoinEx is going to track those sites and gangs involved based on reports from users.

With rich research experience, CoinEx’s security team has had a full picture of platform risk through blockchain and open-source analysis. It is committed to ensuring the security of CoinEx products and services and enhancing the security blanket of the users and the entire ecosystem.

To this end, CoinEx has equipped its platform with complete preventive measures, e.g. 100% reserves, high-speed matching engine, IP address abnormal change monitoring, sign-in reminder, real-time alert for asset changes, multi-layers verification for withdrawal, API permissions, Two-Factor Authentication (2FA), and ID verification, to safeguard users’ assets.

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!

CoinEx Joins SlowMist Zone and Releases the “Security Vulnerability and Threat Intelligence Bounty Program”

CoinEx, after research, has found that fraud rings often use seemingly unrelated brands as bait, and a ring frequently runs frauds under multiple brands at the same time. Fraudsters even falsify licenses of regulatory and government bodies to make their brands appear legal and secure the trust of unsuspecting investors before they commit fraud.

These sites use such tricks as marketer persona, law firms, HR team, and project rating sites. Most of them are based overseas, with victims around the world, making investigation quite difficult.

In addition to the official verification channel in place, CoinEx has put these malicious sites under continuous tracking, and also partnered with multiple analysis service providers to identify threats and address escalating frauds. Through close cooperation with industry partners, CoinEx will crackdown on frauds promptly.

CoinEx has always been committed to upholding the value of users first. Security is, of necessity, the top priority of CoinEx in the long run, and so is the users’ asset security. To this end, CoinEx will take the initiative to promote the positive development of the industry and build a powerful “firewall” for users.