Bitunix Announces Major Security Upgrade: $5 Million Insurance Backed by UK-Based Security Partner
- WBOYOriginal
- 2024-08-22 21:31:11928browse
Understanding that the security of digital assets is important, Bitunix partnered with Cobo, a top-tier digital asset custody provider, in June 2023.
Cryptocurrency derivatives exchange Bitunix has announced a new partnership with UK-based digital asset security platform Nemean Services, a move that will see user assets covered by an additional $5 million in insurance.
The partnership comes as part of Bitunix’s ongoing commitment to providing its users with the highest level of security.
In June 2023, the exchange partnered with Cobo, a top-tier digital asset custody provider, to integrate Cobo’s Wallet-as-a-Service (WaaS) into the Bitunix platform, offering users institutional-grade security.
Cobo’s custody services support a vast range of blockchains and tokens, ensuring that user assets are protected at all times. A key component of this security is Cobo’s use of Multi-Party Computation (MPC) technology. MPC ensures that private keys are never fully reconstructed at any single point, significantly reducing the risk of unauthorized access or hacking.
This collaboration showcases Bitunix’s commitment to providing a secure environment where users can trade and manage their assets with confidence.
Bitunix co-founder Arron Lee shares his vision: “Security is not just a checkbox for us, it’s at the heart of everything we do. We know how important it is for the users to feel safe, and that’s why we are going above and beyond.”
On a mission to continue boosting the protection of user assets, Bitunix has now joined forces with Nemean Services.
The partnership will see user assets covered by an additional $5 million in insurance, offering peace of mind to the users by ensuring that their assets are protected against unforeseen risks.
Together, Bitunix and Nemean are setting a new standard for user asset protection within the cryptocurrency derivatives exchange landscape.
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