54% of Analyzed Crypto Exchanges Fail to Satisfy Proper Security Requirements

[Goodcat49]

According to research conducted by ICORating, only 46% of the digital currency exchanges examined met certain parameters necessary to maintain security and immunity of the platform. Moreover, during the last 8 years, $1.3 billion was stolen as a result of crypto exchange hacks. 

"Over the years, digital thieves have stolen millions of dollars’ worth of cryptocurrency from various exchanges. Transactions and assets are not secured in any way, which makes investing in cryptocurrencies really hazardous. The largest cryptocurrency exchanges contain vast amounts of digital cash. These facts are really attractive for hackers," the report said.   

The Four Criteria   
The report produced by ICORating, an independent agency that evaluates ICOs, was published on Tuesday. It highlights key reasons for crypto exchange hacks, relying on four criteria. They include code errors, web protocol security, user account security, and registrar and domain security.   

The report focused on digital currency exchanges with daily trade value of more than $1 million. There were examined 100 crypto trading platforms, however, only 46% of them were able to meet all four security requirements. For example, they succeeded in providing an opportunity to create a password that can extend 8 characters, passwords with digits as well as letters, email verification, and two-factor authentication. 

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/crypto-exchanges-fail-to-satisfy-proper-security-requirements/

[agusiska]

i think maybe the exchanger must always update or maintenance their domain for early detect the threat of hacker, of course some exchnager doesnt know they were being hacked until they realize some abnormal transactions on their platform, if need, daily or weekly maintenance is needed to protect user asset.

[Kyoshiro]

It is a hard thing to find secure coins in exchange of money. It triggers the hunters to do such things and hinders the possible investors of a certain campgain. It is hard to notice though, but we should be aware of what we are holding.