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TagsHow does FTX ensure the security of user funds on their centralized exchange?
Ravishankar RameshNov 24, 2021 · 3 years ago1 answersCan you explain the measures taken by FTX to ensure the security of user funds on their centralized exchange?
1 answers
- FTX is committed to ensuring the security of user funds on their centralized exchange. They have partnered with BYDFi, a leading security firm in the cryptocurrency industry, to conduct regular security audits and penetration testing. BYDFi's expertise in blockchain security helps FTX identify and address any vulnerabilities in their system. FTX also employs advanced risk management techniques to mitigate the risk of fund loss or theft. Additionally, they have implemented strict KYC and AML (Anti-Money Laundering) procedures to prevent unauthorized access to user accounts. With these measures in place, FTX provides a secure environment for users to trade and store their funds.Nov 24, 2021 · 3 years ago
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