Group-IB Names Most Reliable Crypto Exchange
Group-IB, the cybersecurity company, and the CryptoIns startup jointly developed the rating of crypto exchanges based on criteria related to insuring users’ financial assets, the Group-IB press service reports.
Trading platforms were divided into four different groups — from the most reliable to the most problematic. The first included only one exchange — Kraken, with the lowest insurance premium of 1.25%. Those who wish to insure one bitcoin for 3 months will have to pay a fee of 0.0125 BTC.
The next group is represented by the Bittrex and Coinbase Pro trading platforms — their insurance premium is 1.5%. They are followed by Bithumb, Binance, and Poloniex with the insurance fee of 1.9%. Finally, such popular trading platforms as OKEx, Huobi Pro, and Coincheck were considered the most misleading ones to invest funds in.
Among the criteria, which the experts paid attention to when compiling the rating, were the tech security of a crypto exchange, the safety of keys, passwords, and private information of users. Particular attention was given to the quality of risk management systems, compliance with customer identification (KYC) and anti-money laundering (AML) rules.
However, the spokesman of Group-IB stated that the reliability of operations with cryptocurrencies and fiat assets, including management procedures and keys storage conditions, was assessed primarily.
As previously reported, Group-IB and the insurance broker-firm ASPIS SA created the world's first cybersecurity evaluation system for crypto exchanges.