Study: 54% of Bitcoin Exchanges Have Security Issues


ICO Rating experts analyzed 100 cryptocurrency exchanges with daily trading volumes of more than $1 million and concluded that most of them have various security problems.

The report says that:

  • 41% Of trading platforms allow using passwords consisting of less than 8 characters;
  • 37% Of platforms allow passwords consisting either entirely of numbers or only letters;
  • At 5% of exchanges, you can create accounts without prior email verification;
  • On 3% of sites, there is no possibility to enable two-factor authentication (2FA).

All of the above problems are absent only in 46% of crypto exchanges. However, only 4% have a high level of domain security. 10% Of trading sites use DNSSEC, a set of IETF DNS extensions that minimize attacks related to addressing substitution when resolving domain names.

Coinbase Pro leads the ranking, with an aggregate safety score of 89.

It is followed by Kraken, who has scored 80 points out of 100. Next on the list are BitMEX and South Korean GOPAX. Binance ranked 17th, Bittrex ranked 13th, and Bitfinex ranked 54th. Recently hacked Japanese Zaif took the 29th position in the ranking.

Note that the tightening of regulatory requirements for Bitcoin exchanges is a global trend. For example, last month Japan announced increased control over the market, and in South Korea, the Bithumb and Coinone exchanges deprived unverified users of the ability to withdraw fiat funds.