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ICORating Security Report: No Crypto Exchanges Earned A+; Only 21 of 135 Received an A- or A

ICORating regularly puts out Exchange Security Reports as independent analysts. As they published their report on December 18th, cryptocurrency trading platforms were close to the mark but did not quite reach it. Out of the 135 platforms evaluated, the company determined that there were only 16% of the biggest platforms in the world have managed to score an A- or above. However, not one reached a full A+. The trading platforms evaluated had a daily trade value of at least $100,000 and had to be evaluated in four different categories. Those categories included user account security, web security, registrar and domain security, and DoS attack protection. The top three exchanges, based on these evaluations, were Kraken (A), Cobinhood (A), and Poloniex (A-). There was a total of 55% of exchanges that managed to reach between a B+ and a B-, and the others had between a C+ and a C-. There were subcategories for each of the qualifying categories to get more specific in what the evaluation was looking for. User security was divided into four additional categories, which included two-factor authentication and password security. Unfortunately, out of all of the exchanges, there were only 22% that met all of the requirements. As far as domain and registrar security, there were multiple safeguards in place, which included the use of a registry lock and a brief expiration window that is directed to a high-profile domain. Web security, rather than having the four additional categories of these last two sections, has 10 criteria. Their criteria included MITM protection from attacks, HSTS header presence, and clickjacking attack protection. Every exchange managed to pass the requirement for MITM attack defenses, POODLE defenses, and Heartbleed defenses. HSTS headers were used by 37%, and there were 60% of the platforms that had protection for clickjacking. More of the exchanges had already taken the necessary measures to protect themselves against DoS attacks, which came in at 74%. Other rankings from the ICORating data included an A- for Coinbase Pro (9th), BitMEX (4th), Bitfinex (4th), and HitBTC (13th). Binance, despite having the largest exchange based on the volume that they trade alone, only managed to reach 34th in the lineup with a B+. Gemini, from the Winklevoss brothers, was 84th with a B-, and Huobi was down at 95th with a B-. This week, Cryptopia decided to suspend services when they lost a substantial amount of funds after a hack. They were the 60th on the ICORating list with a B as their grade, and police are already investigating.
Bitcoin Exchange Guide

The ICORating Agency gives the Basic Review of the BtcEX Project.

BtcEX is a licensed cryptocurrency trading platform that gives easy access to a secure exchange offering high liquidity and multiple trading strategies In October of 2016 the BtcEX Hong Kong Bitcoin exchange launched and catered to over 4 000 customers within its first year In October 2017 BtcEX got hacked and lost all funds The lessons learned and experience gained from those unfortunate events will give the team an idea on how to improve security liquidity and platform stabilization BtcEX plans to fully relaunch the exchange and create a more secure token ecosystem that includes both leverage trading and P2P lending The following information about the project is available in public sources PROJECT BRIEF Name BtcEX Ticker BtcEX Coin BXC Project type Exchanges ICO BRIEF Presale start date December 15th 2018 Presale end date January 10th 2019 Public sale start date January 11th 2019 Public sale end date February 28th 2019 Private sale No Token type ERC20 Token usability Utility Total token supply 50 000 000 Token supply for sale 30 000 000 Percentage of tokens for sale 60 Soft cap USD 1 000 000 Hard cap USD 5 000 000 Token price 1 BXC USD 0 25 Bonuses Yes Lock ups Yes Currency accepted ETH Min Max contribution Presale USD 10 000 USD 100 000 Public sale ETH 0 1 USD 100 000 KYC Yes Additional emission No Country of registration Estonia planned Restricted list Bangladesh Nepal Macedonia Bolivia Ecuador Pakistan Palestinian territory Algeria Morocco Virgin Islands Afghanistan Colombia the Democratic Republic of the Congo Eritrea Guinea Bissau Iraq Iran North Korea North Libya Mali Somalia South Sudan Sudan Yemen China and the United States of America USA and China as well as Puerto Rico and the Virgin Islands and any other US territories TEAM ADVISORS Team members 5 Key members executives Kevin NG Maksym Maglovanyi Vikramaditya Kokil Advisors 3 Partners 6
ICORating

The ICORating Agency gives the Basic Review of the BtcEX Project.

BtcEX is a licensed cryptocurrency trading platform that gives easy access to a secure exchange offering high liquidity and multiple trading strategies In October of 2016 the BtcEX Hong Kong Bitcoin exchange launched and catered to over 4 000 customers within its first year In October 2017 BtcEX got hacked and lost all funds The lessons learned and experience gained from those unfortunate events will give the team an idea on how to improve security liquidity and platform stabilization BtcEX plans to fully relaunch the exchange and create a more secure token ecosystem that includes both leverage trading and P2P lending The following information about the project is available in public sources PROJECT BRIEF Name BtcEX Ticker BtcEX Coin BXC Project type Exchanges ICO BRIEF Presale start date December 15th 2018 Presale end date January 10th 2019 Public sale start date January 11th 2019 Public sale end date February 28th 2019 Private sale No Token type ERC20 Token usability Utility Total token supply 50 000 000 Token supply for sale 30 000 000 Percentage of tokens for sale 60 Soft cap USD 1 000 000 Hard cap USD 5 000 000 Token price 1 BXC USD 0 25 Bonuses Yes Lock ups Yes Currency accepted ETH Min Max contribution Presale USD 10 000 USD 100 000 Public sale ETH 0 1 USD 100 000 KYC Yes Additional emission No Country of registration Estonia planned Restricted list Bangladesh Nepal Macedonia Bolivia Ecuador Pakistan Palestinian territory Algeria Morocco Virgin Islands Afghanistan Colombia the Democratic Republic of the Congo Eritrea Guinea Bissau Iraq Iran North Korea North Libya Mali Somalia South Sudan Sudan Yemen China and the United States of America USA and China as well as Puerto Rico and the Virgin Islands and any other US territories TEAM ADVISORS Team members 5 Key members executives Kevin NG Maksym Maglovanyi Vikramaditya Kokil Advisors 3 Partners 6
ICORating

Newest ICORating Exchange Security Report Puts Kraken, Cobinhood and Poloniex as Most Safe

ICORating has recently released a new report ranking the most secure crypto exchanges in the market. In its Exchange Security Report, it ranks around 100 crypto exchanges and analyses their security such as user account safety and DoS attack protection. The report shows that 55% of the exchanges received a rating between B- and B+. Only 15% received an A- or A rating. The remaining were rated with a C-, C or C+. The top three cryptocurrency exchanges listed were Kraken with an A, Cobinhood with an A and Poloniex with an A-. These platforms were followed by BitMEX, Bitfinex, Bitlish, BitMart and BtcTurk, all of them with an A- rating. Binance, one of the largest virtual currency exchanges was ranked 35 in terms of security. Coinbase Pro was able to be ranked among the top 10. Coinbase Pro is the cryptocurrency exchanged developed by Coinbase, one of the largest and most popular crypto platforms in the market. The categories that were analyzed by ICORating are user security, domain and registrar security and DoS attack Protection. According to the report, 74% of the crypto exchanges were protected from DoS attack. These attacks can disrupt the services provided by a specific crypto exchange. For User Security, accounts were created on each exchange and several tests were conducted. In order to understand how good the user security was they took into account four different parameters. These included the ability to create a 2FA, mistakes and errors in the content of the exchange code, the possibility to create a weak password and confirmation of actions using email. Furthermore, the team behind ICORating checked security standards including HSTS header presence, click-jacking attack protection, Man-in-the-middle (MITM) attack protection, among other things. None of the exchanges was able to receive 100 points, equal to an A+ rating.
Bitcoin Exchange Guide

Kraken, Cobinhood and Poloniex Ranked Safest Crypto Exchanges by ICORating

ICORating recently released its Exchange Security Report that ranks over 100 popular cryptocurrency exchanges according to the four categories of user security, domain and registrar security, web security and DoS protection. In the 10 page report available online, three exchanges topped the list: Kraken, Cobinhood and Poloniex. The first two exchanges received a ranking of ‘A’ whereas Poloniex received an ‘A-‘. Below is a screenshot of the exchanges that topped the list. To note is that Binance was not in the top 20 and was ranked a distant 35 in terms of security. Top 20 safest exchanges. Source, ICORating.com Methodology of the Rankings As earlier mentioned, ICORating used the four categories of user security, domain and registrar security, web security and DoS protection. In the case of User Security, accounts were created on each exchange and multiple tests were conducted. The security of the user was determined using four parameters. The first was to check for errors in the content of the exchange code that could lead to malfunctions in the application. Secondly, was the ability to create a weak password. Thirdly, was confirmation of actions through mail. Fourthly, the availability of 2FA authentication. To check the Domain and Registrar Security, the team checked for errors by inspecting the registry lock, role accounts usage and Domain Name System Security Extensions (DNSSEC). For web security, ICORating checked the fulfillment of specific security standards such as HSTS header presence, Click-jacking attack protection, Drive-by Download attack protection, Man-in-the-middle (MITM) attack protection and more. The team at ICORanking also tested for Denial-of-Service (DoS) attack protection. Each category was scored according to the following system: User Account Security: Maximum 17 points, 4 parameters analyzed Registrar and Domain Security: Maximum 18 points, 4 parameters analyzed Web Security: Maximum 57 points, 10 parameters analyzed DoS attack protection: 8 points , 1 parameter analyzed A total of 100 points was the maximum possible score during the security testing of the exchanges. None of the exchanges managed to achieve an A+ rating. What are your thoughts on the security rankings of exchanges according to ICORating? Do you agree with their findings? Please let us know in the comment section below.  Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post Kraken, Cobinhood and Poloniex Ranked Safest Crypto Exchanges by ICORating appeared first on Ethereum World News.
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BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature

Brave Browser Announces BAT “Rewards” Feature On Tuesday, Brave Browser, a crypto-friendly internet application headed by the founder of Mozilla Firefox, Brendan Eich, made a surprising announcement, seemingly aiming to start of 2019 with a proverbial bang. Via a company release, conveyed through its in-house blog, the Brave and Basic Attention Token (BAT) team, which consists of Eich, coupled with an array of fintech, Silicon Valley, and crypto veterans, revealed that it would be previewing “opt-in ads in [the] desktop browser developer channel.” While this feature sounds nebulous, there’s more to this integration than meets the eye. In fact, as broken down in a PC Magazine feature article, this new advertising model will allow common Joes and Jills to earn crypto, in the form of BAT, and potentially other rewards in the feature. This new offering, dubbed Brave Rewards, will siphon 70% of earned ad revenue to users who agree to view advertisements. The remaining 30% will be paid to Brave’s war chest — a likely controversial play, but one necessary for the blockchain project’s long-term survival. Rewards will be available via Brave’s developer/test browser edition. It wasn’t exactly divulged when the innovative feature would hit the publics’ desktops, but the following GIF is how the feature will work: Looking outwards, the Brave team revealed that they expect opted-in users to earn upwards of $60 to $70 a year in the near future, with their preliminary projections predicting that $224 a year could be earned by 2020 through Brave’s in-house ecosystem. While this sounds great — an effective free $224/year for viewing ads — like all things too good to be true, there’s a catch. At the time of writing, Brave has announced support for BAT token withdrawal, as the company wants Rewards’ users to reward their favorite content creators, whether it be large new portals or Youtubers. After this feature goes live successfully, Brave intends to activate “publisher-integrated ads,” which will allow content creators to feature “private ads” on content creators’ pages through the startup’s systems. The company subsequently explained its Brave Ads offering and its applications/benefits from a top-down perspective, writing: With Brave Ads, we are reforming an online advertising system which has become invasive and unusable. Users have turned to ad blockers to reclaim their privacy from ads that track them and sometimes even infect them, and publishers are finding it increasingly difficult to earn ad revenue to sustain quality content with intermediaries that collect huge fees. It is important to reiterate that at this time, this newfangled feature is technically in its beta phase. Due to this positive news, the popular altcoin, which recently gained the support of industry powerhouse Coinbase, has posted a respectable price gain. At the time of writing, BAT is currently valued at $0.125 apiece, posting a 3% in the past 24 hours. The crypto, currently the 36th in this market’s standings, is currently outperforming Bitcoin (BTC) by 2.7%, and Ethereum (ETH) by 2.4%. Crypto Lulls: Bitcoin, Ethereum, XRP Post Barely Any Movement In the same vein of cryptocurrency prices, the broader market has posted close-to-zero movement in the past 24 hours. Per data from Coin Price Watch, BTC has found itself at $3,645 — a mere 0.58% gain over the past day. Other leading crypto assets have also posted slight gains, but have still underperformed BAT. XRP, the go-to asset for fintech upstart Ripple, is up 1.27%, as it sits just shy of the $0.33 price level at $0.3296. ETH, which recently tumbled due to the delayed Constantinople fork, has found itself up by 2%, regaining a portion of the losses incurred yesterday. While the market is trending slightly positive, some analysts expect that BTC is ready to dive. Speaking to MarketWatch, Jani Ziedens of Cracked Market claimed that BTC, if truly oversold, should be posting monumental gains right now, rather than finding itself in an extended lull. So, Ziedens added that this “lethargic base” indicates that demand is limited, “incredibly weak” even, and as such, lower crypto bottoms may be inbound. BAT Title Image Courtesy of Descryptive.com via Flickr The post BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature appeared first on Ethereum World News.
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Cryptopia Hacker Moves Stolen Crypto to Binance; Community Alerts CZ and Funds Are Frozen

It is clear that hackers gave themselves a place to stay in the cryptocurrency industry, which was only made more evident by a recent security breach that happened over the last few days. Cryptopia, a leading exchange in New Zealand, announced a breach that ended in a major theft on January 14th. However, unlike the unfortunate tale that many other exchanges succumb to, that is not the end of the story. The official statement notes that Cryptopia has placed itself into a maintenance mode, helping them to protect their accounts until the regulatory authorities of New Zealand provide other details. Both the High Tech Crimes Unit and the local police are pursuing investigative efforts, though they have commented that “a significant value of cryptocurrency may be involved.” At this point, the actual amount has not been released, and no substantial details have been provided. Still, that has not stopped local news portal Radionz from reporting that the loss is close to $3.6 million. A Twitter user, ShaftedTangu, seems to know where these digital assets are going. On the posts, the user said, Hey @cz_binance Binance has stolen tokens from Topia hitting it sir. Can you lock it down? https://t.co/0XllsBejUV — I Dream Of Alts (@ShaftedTangu) January 16, 2019 Through a string of additional tweets, the user continued to track the funds, as he mentioned wallet address 0x9007a0421145b06a0345d55a8c0f0327f62a2224. In another tweet, he claimed, “Currently the 0x900 wallet contains around $10 mil USD of tokens, large amounts are $PRL $2mil, $CENNZ $1.168 mil, $Denacoin $2.73 mil, $MSP $0.99 mil” Luckily, just under four hours after the original tweet, CZ Binance replied. The reply said, Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 With such a nonchalant type of reply, it is quite a victory for Cryptopia and Binance that the funds could be frozen at all. However, the victory has not been won yet, considering there is no indication of exactly who performed the hack in the first place. Cryptopia has remained silent, though they posted to their own Twitter profile, saying, “We cannot comment as this matter is now in the hands of the appropriate authorities. We will update you as soon as we can.” As a result of these issues, Zhao posted that users should keep their holdings on exchanges, rather than a hardware wallet. However, his post caused an onslaught of negative replies, with some saying that his post implied that self-storage is substantially riskier than storing on a seemingly “reputable” exchange. Zhao later retracted, saying that he was not advising investors to store funds on exchanges. In the first half of 2018 last year, there was over $731 million lost in thefts involving exchange hacks. However, none have reached the severity experienced by the 2014 Mt. Gox hack.
Bitcoin Exchange Guide

Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack

Some of the stolen cryptocurrency from yesterday’s Cryptopia hack has been sent to Binance, which has confirmed already freezing some of the funds.  Binance Freezing Funds Stolen from Cryptopia Twitter account @ShaftedTangu has alleged that some funds stolen as a result of Cryptopia’s hack have been siphoned through Binance. The amounts sent to Binance in question include roughly $7,500 in Metal (MTL) 00, $6,750 in KyberNetwork coin (KNC) 00, $7,181 OmiseGO tokens (OMG) 00, and $8,724 in EnjinCoin (ENJ) 00. All of it totals around $30,000. Changpeng Zhao, CEO at Binance – the world’s largest cryptocurrency exchange by means of traded volumes, has confirmed the allegations, reassuring that they’ve already frozen some of the funds. Zhao commented: Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high-risk maneuver for them. Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 Bitcoinist reported yesterday that Cryptopia’s security has been breached, resulting in ‘significant losses’. Police in New Zealand also confirmed. Binance Caught in the Fire Zhao’s tweet caused a reaction in crypto Twitter’s community as one user (@Crypto_Bitlord) expressed his bewilderment that Zhao referred to “social media” as a means of reporting rather than Binance’s own surveillance systems. I’m genuinely shocked stolen funds from @Cryptopia_NZ have easily passed through @binance UNDETECTED until social media flagged them. This raises some big questions. How is that possible with modern blockchain analysis? — Sir Bitlord (@Crypto_Bitlord) January 16, 2019 On the matter, Binance’s CEO said: It’s quite easy to generate a brand new address. We (and no one) recognize every transaction out there. We already have very in-depth and detailed blockchain analysis. Yet, the question remains – if a regular Twitter user has been able to detect the transaction in question, how, and more importantly – why did Binance miss it? Perhaps the better question, as posed by @Crypto_Bitlord is: So you are saying criminals can steal funds and just create a brand new address to send to before binance? In the meantime, Binance announced today the launch of their Binance Jersey fiat exchange. The platform is aimed at traders from Europe and it offers BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR trading pairs. What do you think of Binance missing the transactions in question? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack appeared first on Bitcoinist.com.
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