54% of Cryptocurrency Exchanges Have Security Holes

Ohh God! Cryptocurrency Exchanges Have Security Holes ?

Despite Hundreds of Millions of Dollars in Hacks, Many Exchanges Still Have Shoddy Security

The cryptocurrency landscape has changed significantly since Bitcoin’s earliest days, but one thing that’s remained constant is exchange breaches. From the Mt Gox days to last month’s Zaif hack, exchanges have been regularly surrendering their funds, despite the increasing value of crypto assets incentivizing them to up their opsec. A detailed new report from ICOrating.com has revealed the extent of the lax security practices that pervade many exchanges, including several supposedly top-tier platforms.

The ICO listing and analysis site profiled 100 exchanges whose daily volume exceeds $1 million and found most of them wanting in one or more areas. 

For example:

1. 41% of exchanges allow passwords with fewer than 8 symbols

1. 37% of exchanges allow passwords with either digits or letters alone

1. 5% of exchanges allow the creation of accounts without email verification

1. 3% of exchanges lack 2FA

1. Only 46% of exchanges meet all four parameters

1. Just 4% of Exchanges Were Found to Have Best Practice for Domain Security

1. Only 2% of exchanges use registry lock

1. Only 10% of exchanges use DNSSEC

1. Only 4 % of exchanges use best practice in 4 out of 5 of these areas

• source of news : https://news.bitcoin.com/54-of-cryptocurrency-exchanges-have-security-holes/