SECURITY AT BIT.COM
Security comes first at Bit.com - protecting our users is paramount and we never take chances.
Cybercrime is a phenomenon that threatens all industries and as innovators, we need to be vigilant of both present and emerging dangers.
So that our users can rest easy, we take a three-pronged approach to security, combining:
- System risk management
- High-level user protections
- Best-in-class custody
Starting at the system level, risk management at Bit.com is delivered through a combination of active risk control strategies and passive risk factor monitoring – both of which are 24/7 pursuits.
Active risk control incorporates the setting up, management, and enforcement of user blacklists, as well as withdrawal frequency controls to detect suspicious activity and defend against hacks.
Passive risk factor monitoring is also based on constant vigilance, our team will be monitoring login IP anomalies, transaction anomalies, and a variety of other ‘risk’ activities on the platform.
We also directly protect our users via password change protection, triggering automatic withdrawal freezes after a change in password – in line with the standard set by all major exchanges.
Custody is the third, but equally important prong of our approach to security.
At Bit.com, we have partnered with Cactus Custody – the renowned institutional-grade custodian service – to monitor and regulate the entire platform.
Crucially, Cactus’ protection mechanisms allow us to identify and reject illegal signature requests for withdrawals. The service also offers private key protection, a popular feature with institutional and retail investors alike.
All in all, Bit.com has baked security into operations at every level, creating a platform that leverages best-in-class technologies to protect our users and their assets.
If you have any further questions regarding our approach to security, then please reach out to us by filling out the form under ‘Contact Us’.
We look forward to hearing from you and answering any queries about the exchange.