CoinEx Bolsters Asset Reserves to Champion User Security in Evolving Crypto Economy
HONG KONG – 05/01/2024 – (SeaPRwire) – Amidst crypto market volatility, exchange security and protecting user assets is paramount. That’s why CoinEx, a leading global crypto trading platform, recently adjusted its asset reserve ratio on December 26, 2023 – underscoring an unwavering commitment to transparency and fortifying user protections.
For CoinEx, safeguarding user funds is a topmost priority. By enhancing reserves and disclosing verifiable Proof-of-Reserve data, CoinEx makes good on its pledge to uphold the highest security standards – building trust in the burgeoning digital asset ecosystem.
Radical Transparency to Instill Confidence in CoinEx Users
To provide users transparency into platform operations, CoinEx employs Merkle Tree encryption for asset data and discloses total user funds. This enables account holders to independently verify their assets are incorporated in CoinEx’s reserves.
According to the latest verified figures, the reserve ratio for CoinEx’s native CET token stands at a healthy 113.83%. Meanwhile, stablecoins like USDT and USDC join assets like BTC and ETH in surpassing 100% reserves. This indicates that for every $1 deposited, CoinEx conservatively reserves an additional $1 to meet withdrawal needs and safeguard funds. Currently, the exchange proves reserves for CET, USDT, USDC, BTC, ETH and DOGE.
By regularly updating Proof-of-Reserve data since 2023, CoinEx instills confidence through enhanced transparency, accountability and stability. This commitment grants users peace of mind that assets remain protected and gives clarity into exchange activities. With 100% reserves continually maintained over six years, CoinEx fosters a markedly secure and transparent trading environment.
Extensive Upgrades to Asset Security Systems for Comprehensive User Protection
Beyond verified reserves, CoinEx couples cutting-edge security infrastructure with extensive safeguards to adhere to maximal industry standards. This multilayered approach offers users an added shield, particularly during periods of market volatility.
CoinEx consistently enhances protections by upgrading systems, expanding offline storage, implementing multi-signature authorizations and backups, and establishing detailed security response plans. Hybrid strategies balancing convenience and security see user funds split between proprietary cold and hot wallets. The exchange has further hardened its cold storage protections with custom security alerts, monitoring, and isolation mechanisms.
Additionally, the CoinEx Shield Fund teams with top security organizations to continually strengthen the exchange’s defences. Thanks to persistent upgrades, transparency initiatives and steadfast diligence, CoinEx furnishes global traders with all-encompassing asset security and a reliably safe trading venue.
By championing radical transparency and building trust in the evolving crypto economy, CoinEx represents a new paradigm for user security. The exchange’s extensive asset reserve enhancements and security reinforcements spotlight an ironclad commitment to safeguarding user funds. For crypto participants worldwide, CoinEx stands out as a trusted partner for accessing digital assets.
SOURCE CoinEx Global Limited
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