Users of the recently-launched DX Exchange were warned of some major security issues with the platform, just days after it went live. According to a statement from the exchange, these have now been resolved, and funds should be completely safe.
A journalist initially reported the issue to the DX team, via a non-official support channel. The security vulnerability, which resulted from an authentication token error, was quickly fixed with a patch to the trading platform's code.
"We would like to thank the vigilant reporter, and our supportive community, who together, brought this issue to our attention. We are happy to report that the vulnerability has been successfully patched, and no user funds were compromised. Our launch was met with a stellar response from our community eager to trade cryptocurrencies and digital stocks. Customer funds were always safe, our multi layer advanced monitoring and defense mechanism was able to avoid any further issue.” says Daniel Skowronski, CEO of DX. Exchange.
Like many larger crypto projects, DX is now participating in a bug bounty program. This will allow developers who identify further security flaws in the exchange to notify those responsible, and subsequently be rewarded for their efforts.
Will security issues like this damage the reputation of crypto more than its use in money laundering and other illicit activities does? Check out this Chepicap article on insitutional approval of a Bitcoin ETF, for further discussion of these issues.