Calvin Cheng demands more security in the cryptographic environment

The CEO of the ABCC exchange, Calvin Cheng, is pushing a new security standard for the world of the cryptocurrency industry.

Cheng’s main concerns are based on research which shows that exchange companies are the most exposed to security problems.

The work carried out by CryptoCompare resulted in 44 pages of 130 exchange data, which helped to reach the conclusion that only a third of these companies store a significant volume of their users’ coins in cold wallets, and that 14% of those Institutions even lack a page of terms and conditions or a privacy policy.

There is a study that shows numbers that are not weighed by volume of exchange. “It was said that although there are many poorly insured cryptocurrency exchange sites, they only represent a small fraction of the volume of operations. As for the industry figures, the exchanges with strong security still represent a much larger volume of transactions. Safety has always been a fundamental priority of ABCC“, Cheng said about the investigation.

The CEO of ABCC assured that the main reason for the improvement in terms of security is to protect the investments of the users.

“We are carefully adding more quality projects to enrich investment opportunities”, he said.

K. Tovar

Source: Coincrispy

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