After the recent cyber attacks, users are looking for security guaranteed by Gate.io

It's no secret or surprise that the Web3 is full of dangers, from hacking attempts to outright scams. These perennial threats highlight the importance of trade-offs in implementing comprehensive security protocols. Strong security measures are critical to keeping user assets and data safe, which in turn builds trust and stability in the industry.

Recent events highlight the seriousness of these concerns: In February 2024, a cryptocurrency exchange in Hong Kong lost around $56.5 million. In April, a cryptocurrency exchange in the Middle East suffered a loss of $14.8 million due to the attack. In May, the popular Japanese cryptocurrency exchange was hacked and 4,502.9 BTC worth an estimated $305 million was stolen.

In June, the UK-based cryptocurrency exchange halted trading after losing $22 million in a “security breach” and shut down two days later following another hack. Additionally, a Turkish cryptocurrency exchange announced on June 22 that it had been attacked, affecting the assets of 10 cryptocurrencies' hot wallets.

For “open finance” and the common security of the Web 3 world, it is imperative that all protocols, exchanges and crypto organizations stop falling into the same traps and rebuild trust. That said, in this ever-evolving landscape, one exchange with more than a decade of experience and commitment to industry best practices stands out – Gate.

Strengthen security on all fronts

Gate.io uses a comprehensive security strategy that spans the platform from digital to physical. Cutting-edge encryption, resilient cloud defenses, anti-DDoS measures and strong web application firewalls are the backbone of cyber threat prevention. These technologies work together to secure transactions and protect against potential breaches of user data.

Behind this formidable defense is a team of security professionals who follow a proactive and risk-based approach. Continuous review and improvement of security protocols means Gate.io exceeds industry standards to protect user assets.

Empower users with security tools

Key to Gate.io's security strategy are advanced features such as Bind IP, Asset Passwords, Google OTP and Anti-Phishing Passwords. These tools aren't just your average security features; Provides strong protection against unauthorized access and phishing attempts. Gate.io believes in sharing responsibility around security, providing users with these critical tools and reinforcing strong offensive and defensive protocols across the platform. For example, Bind IP restricts account access to authorized IP addresses, adding an extra layer of protection to user assets.

Lead the way with clarity

Security is not just about preventing theft. By 2020, Gate.io promises user-verifiable Proof of Reserve (PoR). This ground-breaking initiative allows users to personally verify that their cryptocurrency holdings are fully backed on a 1:1 basis, ensuring transparency and trust. Over time, Gate.io's PoR program has expanded significantly, now covering the widest range of assets among all exchanges. Regular publication of 100% PoR reports highlights Gate.io's commitment to transparency and accountability in managing user assets.

Cooperation for a safe future

Gate.io does not stop at internal protections; It actively cooperates with external experts to raise the level in blockchain security. Partnerships with companies like Hacken include annual security assessments, testing for bugs and loopholes that attackers might pick up, and smart contract audits. These initiatives strengthen Get.Yo's defenses and contribute to advancing industry-wide security practices.

Moreover, Dr. Han Lin, founder and CEO of Gate.io, recently spoke at Seoul Meta Week on how crypto exchanges need to build trust beyond the blockchain, emphasizing the need for strong security measures and calling for industry-wide collaboration to build user trust and To enhance security. With a vision focused on continuous improvement and resilience in the face of evolving threats, Gate.io continues to be at the forefront, setting the benchmark for trust and security in the industry.