Respected cyber security company Group-IB analyzed the security of kryptomere and ranked the marketplaces.
Developer measures to protect against cyber attacks, the Russian company Group-IB has developed a policy evaluation of cryptocurrency exchanges, in terms of insurance risks and built the world’s first rating of their insurance security. First place at the Kraken, and OKEx, Huobi Pro and CoinCheck has proven to be more risky.
The results of Group-IB estimated only reflect insurance risks: insurance statistics of Group-IB takes into account losses from cyber-attacks, theft, fraud and illegal actions of employees and can prove to be quite useful for companies providing services of insurance cryptocurrency assets.
To develop a mechanism for assessment of risks Group-IB used a number of different criteria, including technical security, reliability, storage keys, the integrity of passwords and protection of user personal data exchanges. Group-IB estimates of the exchange and also from the point of view of the use of methods of exchange regulation, “know-your-customer” (KYC) and anti money laundering (AML).
In the ranking of Group-IB of the exchange are divided into four groups: from the safest to the most risky to the insurance. Kraken came in first place, showing the lowest percentage of risk for insurers is 1.25%. In the second group turned out to Coinbase and Bittrex Pro is 1.5%. The group with the highest risk ( 1.9 per cent) entered Binance, Bitfinex, Bithumb, Bitmex, Localbitcoins, MyEtherWallet and Poloniex. The most risky exchanges of Group-IB called Yobit, Zaif, Bitstamp, TopBTC and bit-Z, the terms of which were so low that they were completely excluded from the list.
To date, the maximum coverage offered by the insurance companies in the market, equivalent to 15 BTC. Lately there is a tendency to an increase in insurance premiums along with the increase in the duration of the period of cover, which may indicate either that the insurers are confident in the growth of the cryptocurrency market, or that the number of cyber attacks on stock exchanges will grow even more. We remind you that according to a recent study, the company CipherTrace hacking cryptocurrency exchanges and wallets during the first 9 months of 2018, the year has brought hackers to 927 billion dollars, accounting for 250% of similar indicators of 2017.