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CoinEx CEO Vows to Protect User Assets and Enhance Security Post-Hack

By Tony Chimdiuto Oct29,2023 #Coinex #hack
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CoinEx CEO has vowed to stay committed to serving its users’ interests, innovate and grow the crypto industry protecting users’ assets and interests first. 

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This came in time after a major hack incident compromising platform funds at CoinEx. Yang’s message offers insights into CoinEx’s response, and commitment to maintaining user trust through refunds and security system upgrades driving crypto forward despite challenges. 

CoinEx Extensively Upgraded Its Security Infrastructure

A Closer Look at CoinEx’s Strategic Roadmap to revamp security says a lot about its commitment to ensuring that the users’ trust and priorities are met, to ensure smooth user experience and product development.

Product-Level Improvement: CoinEx has Strengthened private key control and implemented multi-signature cold and hot wallets. 

Team-Level Upgrades: A reinforced team management has been put into place to strategically secure users’ assets across all CoinEx business lines.

Third-Party Collaboration: CoinEx has notably partnered with top-notch security firms to reinforce security systems to ensure that strong global security standards are maintained.

Fund Establishment: CoinEx debuts as one of the very few exchanges with a large funds chest to guarantee user funds security with the unveiling of the CoinEx Shield Fund. This is an added layer of protection to fortify emergency response capabilities.

Prioritizing Users First; A CoinEx Value: 

CoinEx has always been committed to its value of protecting its users. The users at CoinEx remain a top interest of the company.  This is evident in the recent tweet made by its CEO, “We have always been committed to the ethos of “users first” – this driving principle leads us to prioritize users first, be it building products or providing services. Moving forward, we will continue to elevate user experience.”

“I vow to keep user experience at our core – driving innovation and security to safeguard your assets 100%, and shape a better crypto future.”

Haipo Yang

CoinEx fulfilled its commitment and promise by fully compensating all affected users. CoinEx went further to set up the CoinEx Shield Fund to protect users’ assets against emergencies, putting the interests of the users first. This has shown commitment and accountability. 

The exchange’s capabilities to navigate the challenges of the industry were evident with its responsive attitude and its problem-solving approach. CoinEx was also able to stay compliant with the regulatory standards, working with regulators and the needed law agencies across every jurisdiction during the incident.

Future Development at CoinEx

The exchange expressed its dedication to elevate CoinEx to the next level by further strengthening its community. The industry is growing and CoinEx is one of the oldest and most reputable trading platforms maintaining its value and expanding across the globe serving all users. 

In a move to strengthen the community at CoinEx and bring togetherness and support, the CEO announced the future launch of a social campaign to engage its users and achieve a stronger community. 

“And we will elevate CoinEx to the next level by further strengthening our community. The activation of the ‘CoinEx Creator Program’ later on will bring us together with more like-minded influencers and roll out a vast range of campaigns to engage our users and beyond.” 

CoinEx highlights its commitment to building and upgrading its system architecture and product services. Setting up a compliance team, and proactively embracing compliance to ensure that CoinEx’s business growth rests on an increasingly stable foundation to help in scaling through future challenges. 

CoinEx’s Blue-Print for the Crypto Industry

Cryptocurrency exchanges are not new to security breaches. They have always been a target for hackers and it’s not uncommon to hear about incidents where users’ funds were compromised. What matters most is how the incident or breach was handled to restore users’ trust in the crypto industry.

Proper communication, collaboration and transparency are key to handling such situations. This is evident with the world-class problem-solving approach shown by CoinEx during its recent hack incident which has become a blueprint for most cryptocurrency exchanges in 2023.

Responsible firms will drive growth despite challenges and volatility. We can recall incidents such as MtGox where the exchange went bankrupt after a hack without user refunds. However, CoinEx ensured full refunds, proactive communication and collaboration with exchanges and firms to help track lost funds. 

Conclusion 

CoinEx is a customer-centric exchange where users’ interest comes first. This speaks volumes about its integrity and commitment to customer protection and interest.

In our 6 years, CoinEx has weathered storms side-by-side with you. Our progress wasn’t always smooth but we persisted. Your support is what fuels our commitment to stable, sustainable growth. Users come first. With you, we will grow further.

Haipo Yang

Despite the unfortunate happenings that come with crypto winter—increasing regulations, shutdowns, and market crashes. CoinEx rebounds stronger and better, serving its customers.

About The Author

By Tony Chimdiuto

Diutocoinnews Admin. Send all publications to info@diutocoinnews.com.ng

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