CoinEx is one of the few exchanges with extremely low risk

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2022-08-18 20:36:49

CoinEx has never had any security breach since its inception and is one of the few exchanges with extremely low risk.

CoinEx is one of the few exchanges with extremely low risk

On the evening of August 1, the Nomad Bridge was hacked and almost all of the $200 million worth of money was consumed. According to a recent report by Chainalysis released, 2022 has seen 13 attacks on cross-chain bridges and $2 billion has been stolen from hacks this year.

Since the beginning of the year, there have been 13 cross-chain bridge attacks, with a total loss of 2 billion USD. Source: Chainalysis

As we all know, the blockchain ecosystem is constantly expanding, the number of assets on the chains is also constantly growing. Since then, there has been a huge demand for bridges that help move assets between blockchains. It is also because this is where many assets are concentrated, so the bridges are often the prey of hackers.

In general, cross-chain bridge designs are still primitive and lack security. According to a related statistical source, most of the cross-chain bridges that are attacked suffer from contract vulnerabilities and the majority occur before the cross-chain activity and target the transaction approval process.

Some security experts have made the following recommendations:

  • Contract security audit before the project goes into operation;
  • The adaptability of contract calling should be closely examined;
  • Before upgrading to a new version, the project should re-evaluate the security performance of interfaces and transaction signatures;
  • Projects must strictly review all cross-chain transaction approvers to ensure that they are not controlled by a malicious individual.

Cross-chain bridges and centralized exchanges are often similar in terms of asset management. CEX used to be a favorite destination for hackers, but as protocols are designed to be more secure, hacks have been decreasing.

In fact, many of the top cryptocurrency exchanges have been hacked. In this regard, CoinEx has never experienced any security breaches since its inception. CoinEx is also one of the few exchanges with extremely low risk.

The reason behind this achievement lies in the CoinEx founding team consisting of many seniors in the crypto industry..

CoinEx has always devoted itself to blockchain over the years and built a vast blockchain ecosystem. In addition to the cryptocurrency exchange, CoinEx also focuses on developing CoinEx Smart Chain (CSC), ViaBTC Pool, ViaWallet, ViaBTC Capital and CSC Bridge.

CSC Bridge

With CSC Bridge, users can swap assets on different chains (the bridge currently supports ETH, BSC, and Tron) and assets on CSC across different ecosystems, giving a lot of momentum to the ecosystem. blockchain state.

CSC Bridge is a cross-chain bridge launched by CoinEx in December 2021 with high security and reliability. In addition to internal security measures, the bridge is also the choice of many leading blockchain companies.

About CoinEx and ViaBTC’s Ecosystem

CoinEx is a professional cryptocurrency exchange service provider with a global scale of operations. CoinEx exchange was established on 12/2017, and is headquartered in Hong Kong. CoinEx is developed by elite staff in various fields such as Blockchain, finance and services. CoinEx is a member of ViaBTC ecosystem which includes: CoinEx Cryptocurrency Exchange, CoinEx Smart Chain (CSC), OneSwap Decentralized Exchange, ViaBTC Pool, ViaWallet Wallet, Investment Fund ViaBTC Capital investment.

Follow CoinEx Vietnam at: VN Fanpage | Telegram VN Community

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Note: This is sponsored content, CHK does not directly endorse any information from the above article and does not guarantee the truthfulness of the article. Readers should conduct their own research before making decisions that affect themselves or their business and be prepared to take responsibility for their own choices. The above article should not be viewed as investment advice.

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