International cybersecurity solutions provider Group-IB has come up with a scoring model to grade crypto exchanges based on their level of security.The scoring model was created by Group-IB in conjunction with Swiss-based Cryptolns (which is operated by Swiss insurance broker APIS AS), and the grading is intrinsic to CryptoIns’ new cryptocurrency exchange insurance, which will allow exchange users to cover up to 15 BTC worth of digital assets held in their exchange accounts. With the scoring model’s data, CryptoIns has calculated rates for their coverage depending on an exchange’s level of security and asset-protection measures.This insurance will be available for assets held on leading exchanges like Binance, OKEx, Kraken and Huobi, while a full list can be found on CryptoIns’ website.“Currently, approximately 3,600,000 BTC are stored in user accounts on cryptocurrency exchanges, making this market highly attractive for hackers,” Timofey Volkov, CEO of CryptoIns, explained.Per a recent Forbes article, crypto exchanges are attractive to hackers due to their design: They have a centralized single point of failure, making them prone to the same problems faced by millions of web applications globally. This is where the assessment from Group-IB gets interesting for the investor.The grading from Group-IB took the exchanges’ architecture and infrastructure into consideration to better understand the mechanism... For Further Information Click on Below Button