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According to an official release today, the exchange has received an additional $5 million in insurance coverage to further intensify its security for users’ assets.
While Bitunix believes strongly that the security of digital assets is important, the platform has committed itself to providing its users with the highest level of security while safeguarding their assets against any form of fraud or risk.
As part of its unrelenting efforts to implement comprehensive security measures, Bitunix has forged strategic partnerships with industry leaders. One notable partnership happened in June 2023 with Cobo, a top-tier digital asset custody provider.
While Cobo’s custody services are renowned for their efficiency, support of a wide range of blockchains and tokens, and protection of user assets, the partnership saw Bitunix integrate Cobo’s Wallet-as-a-Service (WaaS) into its platform.
 
Hence, their alliance aims to provide users with institutional-grade security.
With this collaboration, Bitunix has proved its commitment to providing a secure environment where users can confidently trade and manage their assets.
Furthermore, Bitunix’s commitment to partnering with industry leaders has also led it to join forces with Nemean Services, a UK-based digital asset security platform, to boost the protection of user assets.
While it basically operates a backup data storage system, leveraging the security benefits of the MPC model in conjunction with its clients and custodians, Nemean is an ISO 27001-certified and SOC 2-compliant platform specializing in the cold storage, safeguarding, and auditing of private key shares.
Following Bitunix’s collaboration with Nemean Services, the derivatives exchange has earned an additional $5 million in insurance coverage. This notable development will ensure that users’ assets are protected against unforeseen risks, thereby fortifying their confidence in the platform.
Speaking on the firm’s commitment to security, Bitunix co-founder Arron Lee said,
“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.”
Following these relentless moves, the exchange has revealed that it will continue to invest in efficient security protocols to stay ahead of potential threats.
Notably, the partnerships with Cobo and Nemean Services are just part of a broader strategy to ensure that Bitunix remains a leader in user security. In addition to existing collaborations, Bitunix also disclosed that it is integrating Fireblocks, a leading provider of secure infrastructure for moving, storing, and issuing digital assets.
Following concerns to curtail the growth in threats that have emerged with the daily increase in crypto users globally, Bitunix has made it its mission to continue providing a secure, reliable, and user-friendly platform where users can trade with absolute confidence.
Source: https://zycrypto.com/bitunix-announces-5-million-insurance-coverage-from-uk-based-security-partner-nemean-services/