Due to all of the negativity surrounding Bitcoin exchanges over the past few days, other exchange platforms are doing their best to reassure customers regarding the safety of their funds. Huobi, one of the biggest Chinese Bitcoin exchanges, have issued an official statement regarding how they handle security in light of the Bitstamp incident.
“Huobi (including BitYes and BitVC, which are separate platforms operated by the same security team and wallet system) follows the common industry practice of keeping the vast majority of its users’ coins in secure cold storage. For the operational hot wallet, which is used for processing user deposits and withdrawals, Huobi has independently developed its own three-tier security system which includes multi-signature addresses and real-time monitoring and anomaly detection mechanisms.”
