CoinEx Deploys Crucial Security Upgrades for Crypto Industry, Letter from CEO Says

Vladislav Sopov

After successfully mitigating large-scale hack, CoinEx CEO Haipo Yang shared message with exchange’s customers addressing major upgrades

In his latest message, the CEO of CoinEx indicated the measures his company is taking to prevent hacks from happening again.

CoinEx CEO issues letter to crypto community

Today, Oct. 27, 2023, CoinEx CEO Haipo Yang published an open letter to the customers of his platform and all cryptocurrency professionals, enthusiasts, traders and investors.

First of all, he apologized for any inconvenience caused by the September attack on the platform. CoinEx remains committed to 100% compensation for all affected users regardless of the sizes of deposits and trading volume.

Then, he announced plans to deploy comprehensive upgrades to CoinEx’s security architecture. The upgrades are set to further enhance the security capabilities of hot and cold wallets and early warning systems.

Besides that, CoinEx will reconsider team management and score new partnerships in the segment of cybersecurity. The exchange will work together with leading Web3 cybersec teams to minimize the attack surface on all tech layers.

Yang values the feedback and support for the community that are particularly important amid prolonged bear markets:

2023 has been a challenging year for the crypto industry – increasing regulation, market crashes, and shutdowns. Few survive the endless crypto winters. In our 6 years, CoinEx has weathered storms side-by-side with you. Our progress wasn’t always smooth but we persisted. Your support is what fuels our commitment to stable, sustainable growth. Users come first. With you, we will grow further. (…) I’m thankful to everyone who has believed in us. I vow to keep user experience at our core – driving innovation and security to safeguard your assets 100%, and shape a better crypto future.

Also, the CoinEx team will establish a security fund and launch a full-scale community creator program to spread the word about secure and responsible trading and best safety practices in Web3.

The exchange launched a 100% compensation program, setting a new industry standard.

Strategic upgrades for advanced security

To make these plans come true, CoinEx unveils a strategic security roadmap. It is going to strengthen private key control and implement multi-signature cold and hot wallets. Also, reinforced team management is designed to make asset security the central mission across all CoinEx business lines.

Through an array of partnerships with top-notch security firms to reinforce security systems, CoinEx is aimed at building a better security design. As an extra layer of asset protection, CoinEx Shield Fund kicks off to fortify emergency response capabilities.

As such, CoinEx is on track to provide robust protection for customer assets to champion the “user-centric” brand values.

CoinEx highlights user-centric approach to business

During this challenging period, CoinEx shows its full commitment to staying resilient and flexible. The exchange will keep innovating and enhancing various products for the retail segment in Web3.

CoinEx is going to leverage new opportunities to upgrade brand influence globally through a new hierarchy of international expansion goals. To do so, every cryptocurrency project should be prepared to meet future challenges and uncertainty.

Despite ever-growing regulatory hostility and macroeconomic challenges, the CEO’s letter reveals that CoinEx keeps its steadfast focus on users and adheres to the ethos of accountability and resilience in all of its interactions with new and existing customers.

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Vladislav Sopov