OQEX Global crypto exchange security technologies

Cryptocurrency exchanges are regularly subject to hacks. Hackers managed to get access to the storage of even major exchanges. So safety is a top priority issue, you have to deal with as a cryptocurrency exchange. But the industry does not remain idle. Security technologies have become more advanced, and exchanges can provide a higher level of security to their customers.

Exchanges use various technologies to ensure security:

• Multi-level protection of confidential data;
• Cold storage of cryptocurrencies;
• Multi-signed accounts to prevent unauthorized access;

Methods of attacks: how hackers break into cryptocurrency exchanges
According to the Block research center, hackers managed to hack 42 cryptocurrency exchanges over the past 8 years. The total damage is about $1.35 billion. But not all crypto exchanges managed to eliminate the consequences of the hack and restore their operation. For example, Cryptopia is still closed for trading, and users have been waiting for more than a year for their lost funds to be returned.

How do hackers get access to the system? They look for vulnerabilities in the code. Even the smallest mistake can provide a backdoor for cybercriminals. Vulnerabilities may not necessarily be on the server side. Errors in the payment gateway code also allow hackers to intercept important data.

The second known method is DDoS attacks. Large crypto exchanges have sufficient resources to protect against this type of cyber attacks. Small sites are most vulnerable here. Hackers "flood" the servers with numerous requests until the system fails. Servers may fail for some time, which gives hackers time to introduce malicious code.

The third popular method is phishing. Cybercriminals intercept user data, which they can use to gain access to the exchange's account. Even if the account is securely protected using two-factor authentication, after receiving the user's data, an attacker can restore access by contacting the support of a crypto exchange or call center.

OQEX Global uses the most modern security methods
In order to prevent hacking, one must use the most current and advanced security mechanisms. The reputation of the exchange depends on it.

Multi-level data protection
This model allows you to distribute access rights at different levels. Each level defines specific mechanisms for protecting against security threats.

• Physical security. It is also divided into two levels. The first level - servers are located in a protected area that only a limited number of people have access to. On a different level of physical security of data integrity is provided.
• Data protection. Transmitted data security methods are utilized.
• Authorization levels. Each user in the system has their own access rights. No user can get to a level higher than the one they are on.

Cold storage
When you replenish your deposit, your funds go to a special exchange account where reserves are stored. There are two accounts: the hot one and the cold one. The hot account is used for operational transactions, and only a small part of the exchange's total funds is located on it. A hot account is also called an online wallet - OQEX Global stores no more than 2% of user funds on It. Therefore, in the event of a hack, although this is unlikely, the damage will be minimal, and the exchange will easily be able to restore the balance from its own reserves.

Other accounts (cold accounts) are divided into several sections so that if one is hacked, the main part of the funds will remain intact. But this is also unlikely since cold wallets cannot be hacked without physical access.

Thanks to modern security methods, OQEX Global becomes one of the most secure crypto exchanges in the world. The exchange has made sure that users do not have to think about the security of cryptocurrency storage and can trust the platform.