Recently, Bitcoin's price broke through $120,000, reaching a new high and frequently dominating global media headlines, igniting enthusiasm in the crypto market. This long-awaited bull market for insider investors has also attracted a massive influx of external funds. However, for new users, selecting a safe and reliable trading platform becomes the first challenge before entering the market. Once a mistake is made, your principal could be completely lost, and at that point, even if the market is booming, it would no longer concern you.
Looking back at the short 16-year history of cryptocurrencies, centralized exchanges have frequently gone bankrupt due to security incidents. Exchanges like Mt. Gox, Coincheck, and BitGrail have gone bankrupt due to asset theft, and even well-known platforms like Binance, Coinbase, Bitfinex, Bitstamp, and KuCoin have experienced asset theft, with some suffering multiple incidents. For example, Bithumb, South Korea's second-largest exchange, has experienced 5 asset theft incidents since 2017, and Poloniex has also encountered two such events. Recently, Bybit became the largest crypto theft incident in recent years, with nearly $1.5 billion in crypto assets stolen.
In contrast, WEEX exchange has not experienced a single security incident since its establishment in 2018. How has it ensured asset safety in this crisis-ridden crypto jungle? Let's explore.
Security Governance and Standard Alignment
WEEX platform adopts a "security-first" architectural design, strictly aligning with international mainstream security and compliance standards, including ISO/IEC 27001, SOC 2 Type II, and crypto industry best practices. The platform's core infrastructure aims to ensure all services achieve high levels of confidentiality, integrity, availability, and compliance, comprehensively safeguarding users, partners, and regulatory agencies' needs.
Specifically, in terms of security governance, WEEX follows the ISO/IEC 27001 standard, implementing a complete information security management system (ISMS) lifecycle, using a risk-based approach to manage asset classification, access control, and operational security, undergoing annual internal audits and third-party certification assessments; simultaneously adhering to SOC 2 Type II standards, auditing operational controls under three trust service criteria of security, availability, and confidentiality, continuously monitoring, logging, and auditing key infrastructure, and strictly executing change management and incident response mechanisms.
Infrastructure and Technical Security
In cloud and network security, WEEX's trading system and all data are deployed on a hardened multi-availability zone cloud architecture, supporting high availability and disaster recovery, implementing Zero Trust Network Access (ZTNA), and strictly isolating areas such as APIs, core wallets, and management backends, comprehensively deploying Web Application Firewalls (WAF), DDoS protection, and traffic rate limit mechanisms.
In identity and access management, WEEX uses Role-Based Access Control (RBAC), adhering to the least privilege principle, implementing Just-in-Time access authorization for critical systems, and uniformly executing Single Sign-On (SSO) and Multi-Factor Authentication (MFA) for internal and third-party platforms.
In data security, WEEX encrypts static data with AES-256, uses TLS 1.3 security protocol during transmission, classifies sensitive data, performs log desensitization and user information protection, with data retention policies complying with GDPR and local regulatory requirements.
Crypto Asset Security Practices
In wallet architecture, WEEX's hot wallet is based on MPC architecture, cold wallet uses HSM hardware isolation, is completely offline, adopts multi-signature mechanisms, and has geographically redundant storage. The platform performs daily fund reconciliation and executes automatic withdrawal limit control through a policy engine.
In key management, WEEX integrates a KMS system, executing quorum-based approval mechanisms, regularly rotating keys, and having third-party reviews of encryption operation processes.
In blockchain monitoring, WEEX implements real-time on-chain transaction monitoring and anomaly detection, integrates smart contract audit processes for listed projects, and integrates blockchain analysis platforms like Chainalysis and Elliptic for anti-money laundering and risk screening.
Application and API Security
WEEX uses static and dynamic code scanning embedded in Continuous Integration/Continuous Deployment (CI/CD) processes, with API gateways supporting interface verification, authentication, and abuse detection, comprehensively deploying OWASP Top 10 security protection measures for front and back-end services.
Business Continuity and Incident Response
WEEX requires critical system Recovery Time Objective (RTO) to be less than 2 hours, Recovery Point Objective (RPO) less than 15 minutes, with incident response mechanisms aligned with ISO 22301, possessing comprehensive emergency plans, and regularly participating in vulnerability bounty programs and red team penetration exercises.
Compliance Guarantee and Regulatory Interface
WEEX integrates KYC/AML screening mechanisms and case management processes, has completed VASP compliance preparation for UAE, EU, and Asia-Pacific markets, and regularly conducts third-party penetration tests and vulnerability management.
With its exceptional security architecture, strict compliance standards, and comprehensive user asset protection, WEEX exchange stands out among many platforms, becoming a trustworthy choice. Whether you are a newcomer to the market or an experienced investor, WEEX can provide you with a secure trading environment.
