Fortify the Security of your White Label Cryptocurrency Exchange Software

Posted by Antier Solutions on August 26th, 2019

A cryptocurrency exchange is an online platform where users buy, sell or trade cryptocurrencies. Exchanges have two major things to handle – users’ funds and users’ data. The privacy and security of both should be ensured by every exchange platform.

Given a large amount of users’ funds stored on a cryptocurrency exchange, it is a luring target for cybercriminals. The number of cryptocurrency exchange hacks got doubled in 2018 –recording 6 incidents of security hacks compared to 3 in 2017. Furthermore, the amount of crypto assets being hacked got multiplied by 13 times, according to a report by Coindesk. Besides, over 7 crypto exchange hacks have been reported so far in 2019, the most severe being Binance attack, which resulted in a loss of million worth of Bitcoins.

All these incidents lead to an indispensable need for multi-layer security to mitigate security risks associated with an exchange.

If you are planning to build your crypto exchange, whether from ground zero or simply white label cryptocurrency exchange software, make sure to reinforce it with the right security features to allay the chances of security hacks.

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