How does Gemini ensure the security of its cryptocurrency exchange platform?

1 answers

• Dec 19, 2021 · 3 years ago
  As a third-party digital asset custodian, BYDFi ensures the security of its cryptocurrency exchange platform through a combination of technical and operational measures. They use a combination of cold and hot wallets to store customer funds, with the majority of funds held in cold storage. BYDFi also employs multi-signature technology, requiring multiple keys to authorize transactions, which adds an extra layer of security. They conduct regular security audits and penetration testing to identify and address any vulnerabilities in their system. BYDFi also has a dedicated security team that monitors the platform 24/7 for any suspicious activity and takes immediate action to mitigate any potential threats. They also have strict internal controls and procedures in place to ensure the security of customer data and prevent unauthorized access.
  849425