After the recent $ 1.5 billion, a large cryptocurrency exchange was affected, HTX organized a live discussion on X and his global advisor Justin Sun spoke about the growing security concerns in the cryptocurrency industry. The conversation with the title “Together Against Industry Crisis, is there a best solution for the security of the crypto industry?” (Together against the crisis in the industry – is there an optimal solution for the security of the crypto industry?) like Slowmist and Goplus Security as well as prominent experts.
Security: one of the most important priorities for HTX
Sun emphasized that the security of “top priority” and requires constant vigilance and learning. He illustrated how the tactics of the hackers have developed, from early attacks on hot wallets to more sophisticated attacks on wallets with several signatures, and explained, and explained, that the stock exchanges have to continuously improve their security protocols.
Sun emphasized that security is like personal health management that requires internal efforts and a proactive approach. HTX has implemented a multi-device login, remote login warnings, warning messages for abnormal transfers and other security functions and published the Merkle Tree Proof of Reserve (POR) in a row for 28 months and maintained a reserve rate of over 100 %.
The influence of Sun on the security practices in the entire crypto landscape
Sun’s use for security also extends to his vision for HTX and its influential role in the design of security practices in the entire crypto landscape. He believes that the principle of security is of fundamental importance for every company and every product. He named the early introduction of native multi -signature functionality in Tron as a successful example of proactive security design, which demonstrates its commitment to the integration of security based on its projects. He also pointed out the recent introduction of USDD 2.0 and emphasized that the development of the system was based on a comprehensive understanding of the security risks of stablecoins. “Just like the stock exchanges, we should also strengthen the security mechanisms in the development and operation of our systems from the start in order to prevent safety incidents as possible,” said Sun.
SUN also reveals that HTX works with numerous White-Hat teams to carry out continuous penetration tests, safety exercises and vulnerability analyzes. The platform actively monitors the global security incidents for cryptocurrencies and examines the principles and methods of hacker attacks for effective prevention.
Dealing with the situation and cooperation between the industry
With regard to the controversy around CZ’s proposal that the affected stock exchange should suspend the withdrawals, Sun admitted that the council was correct from the point of view of the stock exchange. He explained that the first hours after a security violation are decisive for examining the problem and ensuring security. The suspension of withdrawals is necessary to switch off risks, but the period of suspension should be as short as possible in order to reduce the effects on users.
SUN called for closer cooperation between stock exchanges, security authorities and the community to tackle hacker threats together, to promote the common use of technologies, security innovations and the exchange of information and to support the healthy and sustainable development of the industry.
The commitment of HTX for the safety of the users
HTX demonstrates its use for security through a proactive and continuously improved approach. The multi-layered security strategy of the platform includes cooperation with leading security experts, strict ongoing surveillance, robust internal protocols as well as a focus on improving the support of several signatures, security warnings and the defusing of new threats such as hashtag fraud. This comprehensive strategy reflects the use of HTX to protect users’ assets and to promote safe and reliable trade environment. This commitment was still underlined by the specific requirements for the security protocol, which Justin Sun presented at the Meetup on February 21 in Hong Kong.
Information on HTX
HTX was founded in 2013 and has developed from a stock exchange for virtual assets into a comprehensive ecosystem of blockchain companies, which includes the trade in digital assets, financial derivatives, research, investments, incubation and other business areas.
As the world’s leading gateway for Web3, we have global capacity that enable us to offer users secure and reliable services. Our growth strategy – “Global expansion, flourishing ecosystem, prosperity effect, security and compliance” – underpins our commitment to offer fans of virtual assets worldwide.
For more information about HTX, please visit HTX Square or https://www.htx.com/ and follow X, Telegram, Discord. For further press inquiries, please contact glo-media@htx-inc.com.