According to Cryptopia Hack: How secure is Bitcoin-exchanges?

the crypto-exchanges continue to enjoy great popularity – numerous Hacks have changed little. Trackico has taken 135 Exchanges under the microscope and on your security checks. Only a few Bitcoin exchanges were able to Shine.

By Christopher clover
17. January 2019BTC$3.600,36 0.11%part Facebook Twitter LinkedIn xing mail

the safest place to store Bitcoin, Monero & co., is the own Wallet, you should have slowly gotten around. Who exchange however, crypto-currencies with each other – ie: trade wants to find numerous points of contact in the Form of crypto-exchanges. The fact that most of the Bitcoin exchanges have a centralized infrastructure and a Single Point of Failure, but makes them vulnerable to attack from the outside and from the inside. Also in this still-young year, there was already a case of missing Funds, caused a stir. The new Zealand crypto-Exchange Cryptopia announced on 15. January the loss of crypto-currencies in the equivalent of several million dollars.

Until decentralized Exchanges (DEX) will find a wider audience, determine their centralized counterparts furthermore, the crypto-Trading. But what are the Bitcoin exchanges are considered safe? The ICO-rating page trackico kidney in December of last year, 135 crypto-Exchanges on the heart, – but, above all: safety – checked.

the analysts focused on four criteria.

Account security

In the first place, the experts considered the safety of users. Is it possible to create a weak user password? What is the Code? It contains potential sources of error, which could lead to problems in the application? How is the transaction confirmation by E-Mail? A Two-factor-authentication (e.g. Login with a SMS sent Code) is this possible?

The analysts found that only 22 percent of the exchanges were able to Shine in all four of the above points. One percent of the 135 surveyed Exchanges met only two or fewer criteria in a satisfactory manner.

Read also: BlockRE: insurance and risk management for Blockchain-companies

Domain security

A second focus in the analysis was the safety of the web address. In addition to a Registry Lock, which prevents changes to the Domain, should be used for the registration of so-called Role account. As a result, the data of the Person (i.e.: the Exchange-employees), who registered the Domain, it is protected. The preserves, in turn, Exchange employees from targeted Hacker attacks. In addition, the experts would have liked to see a time window of six months, until a Domain can disappear. Among other things, that apostates Exchange employees not with the Domain from the dust. Last trackico examined for the presence of additional security-related DNS extensions (DNSSEC).

on The topic of Domain-managed security, only three percent of the exchanges with the analysts in all points satisfied. With 22 percent, almost a quarter of the stock exchanges met only two or fewer of the required parameters.

web security

state-of-attacks, the security of the Bitcoin exchanges from a variety of web-based as well as compliance with the focus. Among the more common attacks in Heartbleed, POODLE, and Clickjacking. Overall, the Exchanges were able to collect up to ten points. The good news: All of the exchanges are sufficiently prior to Heartbleed, POODLE, and MITM (Man-in-the-Middle) attacks.

in Particular, Kraken points could here: With nine points in the crypto-exchange has cut off the web security on the best.

protection against DoS-attacks

If the Exchanges are sufficiently immune to Denial-of-Service attacks, is the fourth and last criterion of analysis. After all, With 74 per cent, three out of four Bitcoin exchanges were able to collect expert points.

Read also: EOS: Only 37 percent of active Accounts, security vulnerabilities in 27 dApps

And the winner is...

Overall, the Exchanges were able to collect 100 points. On the weight of all the category of web security was the most. Alone in this category, the Bitcoin were able to get exchanges up to 57 points. The second highest priority to the criterion of Domain-security (18 points), followed by Account security (17) and DoS protection (8 points). Depending on the point total received on the crypto-exchanges, notes from A+ to C-.

After evaluation of the results of the done Kraken as the winner. It is next to Cobinhood the only Exchange that has received a straight "A". 19 Bitcoin exchanges have been A received. Poloniex, Bitmex and Bitfinex are occupying the places 3 to 5. Most of the Bitcoin exchanges have received a rating of B+ or worse. 41 Exchanges could, however, achieve only a C-rating.

The alleged recently chopped crypto-exchange-Cryptopia has been considered in the analysis with a "B". While the stock market in terms of Account security achieved a perfect score, weakened you, especially in the Domain of security. This could, in turn, give water to the mill of those who suspect behind the security leak an Inside Job.

On 14th January, Cryptopia "suffers a security breach."

Just one day ago, 13th January, they were moving money out.

What a coincidence! pic.twitter.com/eEUJ1O4Rod

— InvestPal (@invest_pal) January 15, 2019

of Course applies here, too: when in doubt, for the accused.

feels Who moved in view of the numerous mediocre reviews to be with his Coins, Lord, in our Wallet Tutorial are some suggestions for safe storage of Bitcoin & co.