Crypto Exchange Penetration Testing As It is
A short story of why we need exchanges
Imagine you find yourself on a deserted island with a huge bag of gold and dollars (and even a few Bitcoins). You are rich — you can purchase anything you want. However, you’ll never use your money: there is no one to trade with. Your money is useless because you cannot exchange it on goods.
That is why exchanges came around.
They connect buyers and sellers and allow the two groups to negotiate prices. Crypto exchanges allow users to trade digital assets, this ensures circulation and liquidity of cryptocurrencies. Importantly, users have to trust their assets and provide personal information for exchanges. Therefore, users care about the security of their assets and personal information.
How can I check whether a given exchange is safe and trustworthy?
It takes two simple steps. First, look for a secure connection icon (a lock) to the left of the link and make sure that the website runs an HTTPS protocol. Secondly, read user reviews and check whether the exchange has ever been hacked. This advice will allow you to get the basic information about the safety of an exchange.
How can an exchange become safer?
If you are a developer of a crypto exchange and want to perform an in-depth testing of it, you can contact white hat hackers. Hacken’s team is proficient in cybersecurity and penetration testing, so we took the challenge to review one of the most promising exchanges in Eastern Europe — Kuna.
Distributed Lab, the developers of the exchange, is a major player in the Blockchain sphere in Eastern Europe. Nowadays, they run educational classes, create custom tokenization platforms, and organize Blockchain conferences in Kyiv.
During the testing process, white hats explored multiple ways to take over the exchange. They attempted to hack Kuna by getting remote access to different accounts, obtaining funds from user wallets, and performing a variety of other attacks. Notably, Hacken’s white hats did not discover critical flaws in Kuna’s system. The analysis detected several minor issues but they didn’t present substantial threats to funds, users, personal data, and trading processes.
In general, penetration testing and cybersecurity audits of Kuna went smoothly. Hacken white hats were glad to have this experience and now aim for more. The services of crypto exchange assessment and penetration testing are now available on Hacken Hub.
It’s a community-driven business organization, consisting of the HackenHub, HackIT cybersecurity forum, HackenProof bug bounty platform, and Crypto Exchange Ranks.