New CER and Hacken Report Shows Which Exchanges Have the Worst Rating to Store Crypto Assets With
According to a report by CER and Hacken, every person keeping their cryptos on an exchange should know where they rank by security. The risk of losing one’s asset is very high as hackers have stolen more than $1.8 billion from exchanges last year.
The Hacken Ecosystem is a community-based business organization consisting of the HackenProof bug bounty marketplace, Crypto Exchange Ranks, HackIT annual conference and Cybersecurity services division. Hacken utilizes its own token, named HKN, for a full stack of countermeasures aimed at reducing threats, vulnerabilities, and attacks by eliminating or preventing them.
What Is CER?
Crypto Exchange Ranks is the first and only rating service which provides comprehensive objective crypto exchange analytics. It is based on a thorough analysis of broad risk areas including liquidity, compliance, reliability, public opinion, and cybersecurity level; that is why the product offers complex information that is collected using accurate algorithms and mathematical models by means of a professional and intuitive platform.
It will be enormously useful for those who know how to use it. With this product, you can save your time spent on analyzing, scoring and benchmarking the most suitable exchanges.
The list of top 20 exchanges can be found below:
The study says that the exchanges that are the most vulnerable to security flaws are Bithumb, Coincheck, and Zaif. Kraken leads the pack considerably as it finds its CSS score to be over 9.06. In fact, they are the only ones to have a score over 9.
Considering how low most exchanges rank on this scale, there should have been more Bug Bounty programs. Only 13% of the exchanges seem to have it. Ledger CEO Eric Larcheveque says that crypto assets are the easiest to steal and recommends people to switch to hardware wallets.