Group-IB, a major company operating in the field of cybersecurity just recently classified the security level of major Cryptocurrencies exchanges.
From the data collected by the company in collaboration with the CryptoIns insurance platform, Kraken would be the safest platform to buy and sell your digital currencies.
On the contrary, OKEx, Huobi Pro and CoinCheck would be the least secure exchanges. Group-IB arrived at this conclusion by using a new system of analysis, which calculates the insurance premiums for the coverage of the digital assets offered by these platforms.
CryptoIns, a company backed by the Swiss insurance broker ASPIS S which offers its services to so many (dozens) major Cryptocurrency exchanges. The company is responsible for covering losses in the event of "cyber-attacks, theft, fraud and illegal activities carried out by exchange staff."
This analytic system adopted by Group-IB takes into account factors such as the technical security level, reliability of the deposits and the degree of protection of passwords and client’s personal data. The company also takes into account risk management mechanisms, Know Your Client (KYC) policies and money laundering criteria.
What is the security level of the exchanges?
However, Group-IB and CryptoIns did not disclose the exact parameters used to determine the security level of the exchanges, in order to preserve the confidentiality of the analyzed platforms.
The problem of security in the Cryptocurrency sector is becoming more and more important, especially with the advent of the first institutional investors. In September this year, a group of hackers managed to steal 59 million dollars in digital currencies of the Japanese Exchange Zaif, which led to a greater tightening of the regulations by the central authorities in the country of the rising sun.
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