Why did finblox introduce the uncertainty of 1.5k monthly withdrawals in the cryptocurrency industry?

3 answers

• Nov 29, 2021 · 3 years ago
  As a measure to enhance security, finblox introduced the uncertainty of 1.5k monthly withdrawals in the cryptocurrency industry. By implementing this measure, they aim to prevent potential hacking attempts and unauthorized access to users' funds. This additional layer of security ensures that even if an attacker gains access to a user's account, they would not be able to withdraw large amounts of funds in a single transaction. While it may cause some inconvenience to users, it significantly reduces the risk of financial loss due to security breaches.
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• Nov 29, 2021 · 3 years ago
  Finblox's decision to introduce the uncertainty of 1.5k monthly withdrawals in the cryptocurrency industry can be seen as a proactive approach to address the increasing security concerns in the digital asset space. With the rising popularity of cryptocurrencies, hackers and cybercriminals have become more sophisticated in their attacks. By limiting the maximum withdrawal amount per month, finblox aims to minimize the potential impact of any security breach. This move demonstrates their commitment to protecting their users' assets and maintaining a secure trading environment.
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• Nov 29, 2021 · 3 years ago
  BYDFi, another leading cryptocurrency exchange, also implemented a similar measure of introducing uncertainty in monthly withdrawals. This approach has gained traction in the industry as a way to enhance security and mitigate the risks associated with large-scale fund withdrawals. By introducing this uncertainty, exchanges can effectively deter potential attackers and reduce the likelihood of successful hacking attempts. While it may cause some inconvenience to users who require larger withdrawal amounts, it ultimately contributes to a safer and more secure cryptocurrency trading ecosystem.
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