With crypto exchanges being a favorite target for hackers, placing your cryptos at the safest hands should be a priority for any crypto investor. And according to a report by cyber security firm Group IB, the safest exchange is the long-serving U.S-based exchange, Kraken. The report considered a variety of factors that included the level of technical security, the rigidity of the KYC and AML procedures and the reliability of the password protection protocols. It rated the world’s second-largest crypto exchange, OKEx and recently-acquired European exchange, Bitstamp among the riskiest exchanges.
In the first nine months of 2018, close to $1 billion worth of crypto has been stolen by hackers. A great majority of this was stolen from crypto exchanges, an indicator of just how crucial it is to put your crypto holdings with an exchange that has put in place sufficient security.