Group-IB: Kraken Is Ranked The Safest Cryptocurrency Exchange
Analysts at cybersecurity Group-IB ranked the safest cryptocurrency exchanges. They led the Kraken exchange, reports the NextWeb portal. The most risky for investors were the platforms OKEx, Huobi Pro and CoinCheck.
Group-IB, together with the CryptoIns platform, has developed the world’s first system for evaluating the effectiveness of insuring digital assets that are stored on major trading floors. When developing this product, the risk of committing fraudulent attacks and software hacking were taken into account, as well as the likelihood of the illegal actions of the stock exchange employees that could lead to the theft of traders’ funds.
The insurance system analyzes such criteria as the level of technical security, the reliability of storing keys, passwords and personal data of users that the exchange places on its servers. In addition, the software analyzes the actions of the exchange in the field of combating money laundering and identifying new users.
Having studied the policy of administration of trading platforms in the field of risk management, the Group-IB company concluded that the Kraken cryptocurrency exchange currently provides users with the best solutions to ensure the safety of their funds.
In addition, this marketplace provides the cheapest services for the insurance of funds with a tariff of about 1.25%. That is, to insure one Bitcoin stored on Kraken, you need to pay only 0.0125 Bitcoin for 90 days of insurance. Bittrex and Coinbase ranked second and third in terms of safety and cost of insurance, which offer customers a rate of 1.5%. At MyEtherWallet and Poloniex, the digital asset insurance rate is 1.9%.
In early September, it was reported that the Kraken cryptocurrency exchange faced problems due to a breach of the platform’s security service. However, the administration of the trading platform promptly responded to these rumors with a statement that there were no security problems, and the exchange was operating normally.
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