14 Korean Exchange to be Vulnerable

Test was ran by authorities from September to December 2018, covered exchanges on 85 criteria
11 January 2019   473

The authorities of South Korea summed up the results of checking 21 cryptocurrency exchanges for compliance with security requirements. According to its results, only seven sites - Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco and Huobi Korea - received a positive conclusion from regulators, writes CoinDesk.

The test, which ran from September to December 2018, covered Bitcoin exchanges on 85 criteria. In particular, regulators were interested in administrative, network, system and operational security, as well as the presence of database backups and features of wallets management.

According to the Ministry of Economy and Finance, 14 trading platforms were recognized as “vulnerable to hacker attacks” due to “inadequate network security management.” At the same time, the regulator did not disclose the names of these platforms.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   66

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.