A recent report from ICO Rating has found that only 46% of cryptocurrency exchanges meet the desired security parameters with the remaining 54% considered to have sub-par security measures in place, leaving hundreds of thousands of traders and investors exposed.
The sample group of exchanges contains 100 exchanges all of which have a 24-hour volume of over $1 million.
A total of $1.3 billion has been stolen from hacked cryptocurrency exchanges since 2010, and yet it still seems that exchange operators are failing to take security seriously. The security report published last week by ICO Rating considers the following four factors when establishing a security rating:
- Console errors
- User Account Security
- Registrar and Domain Security
- Web Protocols Security
General Security
The analysts then ranked the 100 exchanges by order of most to least secure.
Coinbase Pro took the lead as the most secure exchange, with Kraken following after in second place. BitMEX, GOPAX, and CDPAX made up the rest of the top 5.
Report Link: https://icorating.com/report/exchange-security-report/
Check Out My Crypto Reviews:
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-Cardano: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-cardano-ada
-Basic Token Attention: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-basic-token-attention-bat
-Hacken: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-hacken-hkn
-QuantStamps: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-quantstamp-qsp