How Cryptoindex.com Drives Security

Whatever crypto-related you do, security is always the basics, not the privilege. So, to embrace you with our most, we have studies the core market risks, and shaped our own strategy to mitigate them.

Key Crypto-related Risks

Cyberattacks and Hacks

Cryptocurrency exchanges and platforms are prime targets for hackers aiming to steal digital assets. A notable example is the hack of the Japanese exchange Coincheck in 2018, where approximately $534 million worth of NEM cryptocurrency was stolen.

Fraud and Phishing

Malicious actors create fake websites or apps that mimic official platforms in order to deceive users into giving up their funds. For instance, phishing attacks on KuCoin users in 2020 led to losses of around $285 million.

Loss of Access to Funds

Losing private keys or passwords can result in the irreversible loss of cryptocurrency. Unlike traditional banks, the crypto world offers no recovery options through customer service.

Technical Failures

Bugs are always unpleasant, but when in smart contract code or software vulnerabilities, they can lead to the loss of funds. In 2016, a vulnerability in the smart contract of The DAO project led to the theft of around $60 million worth of Ether, which resulted in the Ethereum network splitting into two chains: Ethereum and Ethereum Classic.

Market Volatility

Cryptocurrency prices fluctuate all the time – just take the current banana zone. As a result, crypto users can face significant loses.

Our Security Measures

Understanding the seriousness of the aforementioned risks, at Cryptoindex, we have implemented several security-boosting measures:

Smart Contracts

Our smart contracts undergo rigorous audits and testing, ensuring the automatic and secure execution of operations without third-party intervention.

Internal Security Audits

Regular system checks allow us to identify and resolve potential vulnerabilities before they can be exploited by malicious actors.

Monitoring and Alerts

A 24/7 monitoring system tracks suspicious activities, providing real-time responses to potential threats.

User Education

We offer guidance on securely storing private keys, using two-factor authentication, and recognizing phishing attempts, helping users safeguard their assets.

Diversification

Though we can’t fight against the volatility, we can help you make the most of it – you can use indexes that are portfolios made of different assets and shaped by experts. Thus, even if some currency on your board fails, there always will be something to balance it.

As you see, we do our best to make your journey comfortable and secure. Hold on tight to make the most of indexes!