Poly Network Got Hacked, What Place Is Safe to Trade and Store Assets?

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During the last decade, cryptocurrencies, especially Bitcoin, Ethereum, and Dogecoin, have increased their value several times, catching attention from small fishes and whales, but also hackers.

On August 10th, hackers are reported to breach Poly Network, which is a blockchain-based platform allowing traders to swap crypto coins across a variety of blockchains. The attack appears to be the biggest one this year with a grab of 600 million USD in cryptocurrencies.

Though security researchers are trying to pick out hackers by identifying their IP address, email, and even device fingerprints, the chance to take back the money seems slim.

Bexplus

Source: Poly Network

Looking back on the attacked history:
Respectively in 2015 and 2016, Bitfinex got twice hits to lost about 100,000 BTC in total.

In middle 2019, Coinbase was hacked on its SIM port, roughly causing damage of 100,000 USD.

In May, 2019 Binance had 7,000 bitcoin and some user two-factor authentication codes and API tokens stolen.

It is reported that hackers’ ways to attack platforms are various, but the easiest one is to extract assets from online wallets (hot wallets) embedded in exchanges. If you plan to store a large number of coins or tokens for any length of time, we recommend using a cold wallet. Unlike a hot wallet, it is an offline wallet to avoid exposure to the risks of being compromised. Currently, a cold wallet is the safest place to store your asset.

At this point, it is time for you to look for a super-secure platform available with a cold wallet for the sake of security and convenience. To meet your needs, we recommend Bexplus to you, which is a digital currency financial derivatives trading platform featuring security, credibility, and convenience.

Why Bexplus is safe

Bexplus will safeguard your asset with tamper-resistant and multi-signature cold wallet addresses. All funds transferred from cold storage are manually processed and require multiple staff to coordinate. With its top security, the server has not gone down once, and no funds have been lost in any attack in its four-year operation.

So there you have it, Bexplus will be your choice to trade and store your coins without hacking risks.

Bexplus

Learn more about Bexplus

Established in late 2017, Bexplus is a popular crypto exchange headquartered in Hong Kong, which has branches in Singapore, Japan, the US, and Brazil. Bexplus doesn’t require KYC and is accredited by MSB (Money Services Business), trusted by over 800k traders from over 200 countries/regions.

Advantages of Bexplus

  • High security: Anti-DDoS protection systems and other advanced technologies are adopted to protect your asset.
  • Interest wallet: Users can enjoy up to 21% annual interest.
  • 100X leverage: 1:100 leverage enables you to earn 100% profit.
  • Demo account: 10 BTC offered for you to practice your trading skills.
  • Privacy: Registration only requires an email confirmation, and there is no need to verify your identity.
  • Deposit bonus: Get 100% bonus every time you deposit.

There is no doubt that Bexplus is one of the most secure exchanges and platforms for storing cryptocurrencies.

Sign up on Bexplus!

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Source

Updated: 08/11/2021 — 11:00