Security News > 2021 > September > Crypto exchanges and their customers must protect themselves as attacks continue

In 2018, hackers famously compromised several cryptocurrency exchanges by compromising a popular software library used by most exchanges on the internet.

Cryptocurrency exchanges are convenient, which means people will almost certainly continue to use them.

The mainstream rise of cryptocurrency means an influx of novice users-and these are also the most likely to continue to use exchanges.

Exchanges themselves can increase their security through steps like implementing continuous monitoring, vulnerability detection, and information sharing with other exchanges.

As attacks continue, those exchanges that protect their users and their assets will be the most successful-especially since claims against exchanges can be viewed publicly.

Both exchanges and individuals should explore the growing field of cyber insurance, which can allow individuals to protect their assets from potential theft while also putting exchanges in a position to reimburse customers if something goes wrong.

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