Post
Topic
Board Exchanges
Re: Crypto Exchange
by
CodyAlfaridzi
on 19/12/2019, 07:37:26 UTC
Since exchanges have had a history of being prone to hacking, does any crypto exchange offers security strong enough that helps to prevent this?
I think to enhance security, the exchange must sacrifice customer convenience. Most hacking happens to exchange that implement automated hot wallet withdrawal. Automated withdrawal is a convenience but poses a big risk for hacking because any withdrawal that requested below a certain amount would be done without checking. For best security practice, I think manual, batched withdrawal is the way to go. Take Bitmex for example, they implement a daily, manual withdrawal and I haven't heard them getting hacked.