Crypto exchanges must regain user trust by becoming more transparent and adopting measures to prevent fund misappropriation
However, even when governments step down on the accelerator to bring tougher regulation, it will take years before all the rules are enforced accordingly. Before that happens, trusted third parties can have a greater contribution to rebuilding confidence in CEXs. For example, private rating agenciesGovernments will slowly but surely impose more control over crypto operations, but CEXs can avoid overregulation by becoming more responsible themselves.
CoinEx employs the Merkle tree method to prove it has a 100% reserve ratio, meaning that in the case of a surge in withdrawals from clients, the exchange has sufficient funds to satisfy all requests. The exchange has maintained a 100% reserve ratio since its inception in 2017. CoinEx has also adopted a series of measures to protect user assets, including standard two-factor authentication, a high-speed trade matching engine, login reminders, abnormal IP address change monitoring, multi-layered withdrawal verifications, API permissions and real-name authentication.
The platform has maintained a zero-accident record to date thanks to its responsible approach against fund misappropriation and hacking attacks. To improve risk control and asset security, CoinEX also released the Security Vulnerability and Threat Intelligence Bounty Program, which incentivizes users to inspect and record any potential security vulnerabilities on the platform. The program divides potential vulnerabilities into three levels based on their threat, offering up to 10,000 USDT to participants.
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