People want to have Bitcoin !
With the high price of Bitcoin, people around the world want to have bitcoin, but not all people want to buy Bitcoin to have them. other people is trying to stolen Bitcoin from bitcoin wallet, which is they are trying to hacked exchange for stolen bitcoin and other digital asset from exchange wallet and from fund storage exchange. In Bitcoin journey History, case of loss funds from exchange user was happening year by year. Reason of this case its because not all of Bitcoin exchange have high security to safety user fund, and not all of funds saved on cold wallet storage with high security protection, some of exchange funds have less secured.
According to Cointelegraph.com, First case of stolen funds from exchange its Mt.Gox, which is hacked in 2011, and then Mt. Gox hacked again in 2014. Hacker trying to contact and compromised user account on Mt. Gox for auditor of exchange, but with this through they hacked Mt. Gox exchange ! . In 2011 total stolen funds on Mt. Gox is 500,000 BTC or equivalent to $8.75 million, and on second case Mt. Gox loss more fund, 850,000 BTC.
Source: https://cointelegraph.com
Other hacked case on Bitcoin, its on decentralized exchange Bancor. Cointelegraph.com reported Bancor was attacked by hackers on July 9, 2018. Hackers is trying to withdraw $23 Million funds from the exchange’s hot wallet. Hacker can hacked Bancor through their own bancor smart contract. After Bancor know about hackers activities to withdraw funds, bancor Decentralized Exchange frozen hackers transaction on their exchange through smart contract.
Security its priority on Cryptocurrency Exchange
From that twice case, we know how its really important to selected secured and safety exchange for trade and saved digital asset especially for saving Bitcoin. Exchange need to ensure user, which is their asset its secured to saved on exchange wallet. Security must be first priority on Cryptocurrency Exchange for convenient user. Ethan Ng, leader of Huobi Global Vietnam at the "Vietnam Cryptocurrencies and Digital Assets Dialogue 2018" on September, say that, "We are coming of age as an industry and evolving into true mainstream acceptance. In order facilitate this, we, as an industry, must make sure that the public feels secure – and even more importantly, that they are secure. ” Reported on Huobi Blog
Huobi Security
Huobi Security Reserve robust cybersecurity protections to prevent criminal activity, including third-party penetration testing to network of Huobi security and a full-time security staff which has been trained in bitcoin protocol. All of that its for comfortable user to trade and saving their digital asset on account Huobi Global. Huobi Security its priority for secured Huobi client funds.
Source: https://huobiblog.com
Ethan Ng said, standard for industry of digital asset exchange must be have this point :
Huobi Global dedicated user protection funds
-Exchange need to ensure user for giving back user funds if user loss fund because mistake of exchange. Huobi Global dedicated user protection funds to compensate clients for losses incurred due to exchange security failures. For example, Huobi Security Reserve fund have 20,000 BTC funds as well as the Huobi User Protection Fund. This funded by 20% of all Huobi Token (HT) bought back by Huobi. Protection funds will be ensure Huobi user which is Huobi have funds for compensation client funds if exchange security failures.
Stringent wallet protection
-Stringent wallet protection. Huobi stores 98% of its client funds in more-secure cold wallets, rather than less-secure hot wallets. Huobi security wallet protection secured funds to protect wallet from hackers.
SMARTChain evaluation model
-Huobi has pioneered running exchange via SMARTChain evaluation model . Methodology structure of SMARTChain evaluation model is how to implemented blockchain project, background team of project including Coin, Technology Platform, Asset and Token Based On The Real Asset. Huobi team explored and make research the potential value of blockchain asset with strong internal controls to prevent fraudulent coins from being listed on Huobi exchange.
-All client need to secured login activity on exchange account. For login security, every Huobi user suggested to use security login with 2-factor authentication enabled.
Huobi Global was have long journey in cryptocurrency wold since 2013. According to CoinMarketCap Huobi Global its Top 3 higher volume exchange which is provides reliable, secure digital asset trading in 130 countries around the world. Huobi Global was have five years of experience in digital asset financial services and serve millions of users by managing assets with the size of over $10 billion, technology decentralized structure and anti-DDOS protection system. You can try to used Huobi Global feature, and Register new Huobi Global account following this link .
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Source : Waktunyabukamata — Cryptocurrency Trading Tutorial and Digital Asset Investment
Disclaimer; The materials provided here is in general nature and does not take into your objectives, financial situation or yours needs. I share my prespective and my experience to provided my knowledge for readers this article. Consider your investment objectives, level of experience, and your financial resources, please research more information from source and official website to ensure yourself before your made investment in Digital Asset.
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