Exchange security report: only 16% A- or A; Cyptopia B while Binance only B+?

16 Jan, 2019
by Alberto Arnaldo
Exchange
Exchange security report: only 16% A- or A; Cyptopia B while Binance only B+?

A report about safety on cryptocurrency exchanges published on the 18th of December is gathering attention today after the recent Cryptopia hack and ongoing investigation.

The evaluation system used by icorating.com allocates up to 100 points in the following categories: user account security (17), registrar and domain security (18), web security (57) and DoS attack protection (8).

 

Only 16% of all 135 exchanges evaluated reached an A- or A grade, without any obtaining the maximum score. The median rating was a B-, which was given to 31 exchanges.

The cutting metric for deciding which exchanges would make it into the report was having a daily trading value of at least $100,000. According to the estimations of the authors, this would only leave out 65 out of the 200 exchanges that they currently count as operative.

Kraken obtained the first position of the table, which makes it the second time that the exchange ranks on the top. The rest of the podium is taken by CobinHood, which equals Kraken with an A rating, and then Poloniex, BitMex and Bitfinex on descending order, as they all are rated with A-. 

Some debate started on Twitter regarding the accuracy of the classification, specially taking into account that Binance, one of the most popular platforms, is ranked at the 34th position with a B rating, while some exchanges with far less users and popularity enjoy surprisingly high positions. There was a prompt answer from the CEO of the company:

Read more: Binance freezes stolen Cryptopia funds after Twitter warning;54% of crypto exchanges have sub-par security measures, report finds

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Poll

Do you think protection is in the hands of users or crypto exchanges?

(10 votes)

Add a comment

Oh wow, bitfinex got an A. I hope this info is trustworthy and all of the exchanges that got an A are actually decent and worth trying.
17 Jan, 2019 - 21:23
Congratulations to Bitfinex. This is an excellent result after upgrading servers.
22 Jan, 2019 - 09:32
A- is such a good result when the hackers are not sleeping! Good job Bitfinex
24 Jan, 2019 - 23:41
WTF? Why Poloniex has A- ? The developers have not done updates on this exchange for a long time. How can it be secure?
21 Jan, 2019 - 21:52
ahah xD no one want to hack Poloniex because no one users trade here!
22 Jan, 2019 - 09:13
lol As for me Poloniex lives last days. This exchange has very hard issues for now
01 Feb, 2019 - 22:08
yes not right mark for Poloniex
31 Jan, 2019 - 12:12
I use Bitfinex and it is cool that my exchange is such secured. A- is a good result
22 Jan, 2019 - 08:12
yeah, bitfines shows good results
22 Jan, 2019 - 09:49
I am satisfied with the results. Good one for Kraken and Bitfinex!
25 Jan, 2019 - 00:17
As for me top 3 exchanges Bitfinex, Kraken and Binance showed a brilliant result
31 Jan, 2019 - 09:03
Excellent result from Bitfinex. It is a pity that a little bit was not enough for the result A
22 Jan, 2019 - 20:44
It can get A after the improvements. Everything changes
11 Feb, 2019 - 08:48
Oh really people. The minus doesn't mean anything. It is still an A and it's an exceptional result for bitmex and bitfinex.
Sorry for binance though. There enough idiots who would really believe in stats like that. It's fun of course. It's inspiring and engaging but probably not really true.
23 Jan, 2019 - 09:13
Yeah Bitfinex! I like such ratings. They show the exchange you can trust. I'm glad that the exchange I use has an A- rating.
23 Jan, 2019 - 23:10
Why they didn't say who got c? I bet it's coinbase.
25 Jan, 2019 - 09:52
It looks so. Coinbase has the lowest security level
01 Feb, 2019 - 13:56
bitfinex will sure do bettef it can it
25 Jan, 2019 - 21:51
I do not understand how Poloniex received А- rating. In recent news I read about the failure of the Poloniex exchange and withdrawal of funds. How it possible?
25 Jan, 2019 - 23:57
I wonder how did poloniex get it too. moreover does it have any security? looks like no
28 Jan, 2019 - 00:31
I want to congratulate the exchanges that I use. Good work Bitfinex, Kraken and Binance! Thanks for the good protection.
26 Jan, 2019 - 08:40
Poloniex should get the last place, Z letter😄
29 Jan, 2019 - 17:44
A result is for champions !
my champion is Bitfinex
29 Jan, 2019 - 19:14
interesting statistics was gathered. Bitfinex has A category, that mean something
31 Jan, 2019 - 10:47
Rather strange rating. Some unpopular platforms are on top and popular are too low. Poloniex with a pile of internal problems couldn't be among leader in security.
31 Jan, 2019 - 23:26
Looked at the result of Bitfinex. quite good !
01 Feb, 2019 - 18:00
After the latest terrible news about Poloniex, I don't know how the stock exchange got any safety rating at all?
02 Feb, 2019 - 09:23
I'm happy for Bitfinex and Binance. Really good result! These are my two most beloved exchanges for now
03 Feb, 2019 - 18:55
I like this security rank. My favorite exchanges Kraken and Bitfinex get A rank. Beautiful to watch
04 Feb, 2019 - 17:10
Only 16% of all 135 exchanges evaluated reached an A- or A grade
and Bitfinex is in these 16 % cool hehe
04 Feb, 2019 - 20:35
applauses to BitMex and Bitfinex !
08 Feb, 2019 - 18:42
these ratings are definitely reliable. if they would then how can poloniex be receiving such a good grades even tough it is one of the worst exchange with countless number of issues
20 Feb, 2019 - 19:44
according to this report kraken, bitfinex, binance are among the most secured platforms. good to know as I have accounts at all these places
20 Mar, 2019 - 12:31

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