The Growing Importance of Security in Cryptocurrency Exchanges: Lessons from Recent Hacks, page-3

  1. 16 Posts.

    Every exchange one way or another faces the same issues but the number of times this occurs depends if the exchange is seriously taking action or not. Even big exchangesBinance, Coinbase, MT. Gox, Upbit, Kucoin, Huobi etc. You name them all got hacked through either a security breach or their Hot wallet.

    I brought this up because how people tend to say DEX can never be hacked but look at where we are now. It still got penetrated and stole users' funds with no trace.

    What makes these two different is that exchanges tend to discover how money left and work towards that to keep users funds safe. These shows that we need to look into some factors before diving our money

    The four factors everyone needs to look into these days areUsers Protection Fund
    Proof of Reserve
    Commitment to Compliance
    Wallet Security

    And Yes, I agree with you that Bitget faced hack issues around 2022, but it wasn't directly from a security breach. Rather it occurred when someone sent an APK link to their telegram official group those who clicked were the ones affected linking to their Bitkeep DeFI wallet. I believe they compensated those affected. This time, they take their security very tight. You might want to check them out to see how far they have gone with it
 
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