We believe in rigorous security measures, and do not compromise security for convenience.
This results in the highest security rating among all cryptocurrency derivatives exchanges. Including BaseFEX, only 4 exchanges have scored A+ in Mozilla’s Observatory Test, out of over 400 cryptocurrency exchanges examined.
Customer Asset Protection
Extensive cybersecurity framework is implemented to ensure that strict measures and practices are in place to protect client assets against any eventuality or threat. Some of our security tools and measures:
- Periodical stress tests and security audits to to keep up to date with new potential vulnerabilities.
- 2FA to ensure account security and prevent any unauthorised access to user’s account.
- Encrypted SSL to encrypt and secure our website’s traffic.
- All passwords are cryptographically hashed while all other sensitive data is encrypted.
Please note for security reasons, we cannot disclose all details of the security measures implemented on the platform.
Our system has been built such that no single person, vault location or device failure could compromise the integrity of user funds.
All assets on BaseFEX are stored in multi-signatured cold wallets only. All BaseFEX addresses are multisignatured and all storage is kept offline. This means, even in an event of system compromise, an attacker still will not have full access to all the required keys to steal funds.
Each and every withdrawal is manually audited before sending and requires the coordinated actions of multiple BaseFEX employees. No private key is kept on any cloud server.
All deposit addresses sent by the BaseFEX system are verified by an external service to ensure that they contain the keys that the founders control. If the public keys do not match, the system is immediately shut down and trading is stopped.
Reporting Security Issues
BaseFEX appreciates the work done by security researchers to improve the security of our service offerings. Please report security issues through our bug bounty program on HackerOne: https://hackerone.com/basefex