Cobinhood Security

Did you receive that email from Cobinhood about their security?

Security & Candies 🍬 ? COBINHOOD gives you these things, and then some

It made me curious.

How to improve crypto security in a time of leaking, hacking, and crashing

Talking about a buzztitle there!
You all have your bullshit bingo cards at hand?

Multi-level assets security mechanisms:

• Cold Wallet
• Hot Wallet

Hmm, why would I care about a cold wallet in an exchange?
They store it in a bank safe.. Well, I wanted to escape the banks in the first place!
And the hot wallet, how is it secured?

We put it in the Google Cloud

Anyone Bingo already?
Yes, NSA, those are my private data, why don't you come and have a look, thank you

Self-trading restriction
Flash crash prevention

Those are parts of an exchange, thank you for manipulating it.

Data leak-protection and integrity

Now we are talking, what do you do on those points?

Part of facilitating a KYC framework that works for both the users and COBINHOOD is to make sure that user-provided information are leak-proof. Private information such as banking details, tax number, and other personal details collected from the users through the KYC requirement will be stored in a safe database.

Daily Database Integrity and Reconciliation Check

Reconciliation system (Bank) verifies balances and ledgers by replaying the order book and mocking the funding operations. This feature includes records of designs and implementations of reconciliation system.

Hm, you didn't explain anything. You store it in a safe database.
Ok, what is a safe DB?
And all my tax numbers and private data will go to be verified by a bank?
Wow, just wow..
Thanks for clarification, but I better use .. something else!
Or just for my $100 fun trading bot.

TL;DR:

If you want to put your data in the cloud, go there and have fun, because Google Cloud!

If you liked this cobinhood post, you can vote for me as witness.