AMA Recap — How does MoonXBT keep your funds safe?
Host: Hello, everyone. I am delighted to be here today to host our AMA. I want to give a warm welcome to everyone who came here to participate in today’s AMA. As a token of our appreciation, we will reward 10 lucky participants. So, good luck everyone!
Host: The purpose of this AMA is about this topic — — How does MoonXBT keep your funds safe?
and Elon, a senior product operator from the MoonXBT team, will participate in today’s AMA. He will introduce this part to you and answer any questions you may have.
Part 2: Questions and Answers.
1. Why MoonXBT cares so much about funds security？
Our mission is to build a closer blockchain ecosystem and accelerate the world to embrace cryptocurrencies. So, as a responsible exchange platform, we are committed to protecting your assets. Building a platform that users can fully trust it’s our priority！
2. Is my funds safe when I trade on MoonXBT?
First of all, the answer is, yes, of course. Your funds are quite safe when I trade on MoonXBT.
If you are new to cryptocurrencies, you may not know which exchanges to trust or not. so you want to ensure you go for a secure one so that you don’t risk your money. Here are some things that I will tell you later, that may help you see how safe MoonXBT is.
3. How Does MoonXBT Protect the overall platform funds?
MoonXBT has done a lot of work to help protect your money. We are cooperating with the top security company、top digital asset custody platform and the local governments to provide investors with a safe and secure trading environment！
We worked with Certik on security audits. CertiK is the leading security-focused ranking platform to analyze and monitor blockchain protocols and Defi projects.MoonXBT was audited by CertiK and we are working closely on the platform security.
We worked with Fireblocks on platform digital asset custody. Fireblocks is a world-class digital asset custody, transfer, and settlement platform. MoonXBT has established deep cooperation with Fireblocks, in this way, we can ensure the 100% security of platform assets.
4. How Does MoonXBT Protect Your Personal Accounts Safety?
The safety of your assets is our top priority. There are several other features put in place to make sure your funds are always protected. For example, we have two-factor authentication, address whitelisting, and device restrictions, and you also have a top security team to defend against potential attacks. So, it should be impossible for anyone to access your MoonXBT funds.
5. How Is MoonXBT Regulated and Insured?
At the moment, MoonXBT is being reviewed by most governments in the world to figure out if regulation is necessary. The one authorities that spoke about cooperation with MoonXBT were the Securities and Exchange Regulator of Cambodia (SERC).
MoonXBT is the only crypto exchange at the site among other attendees to have signed the MOU. MoonXBT is also the second crypto exchange after Binance also signed the MOU with SERC in June this year, to become a working partner with SERC.
6. What are the main technology highlights of MoonXBT to ensure fund security?
Hot and cold wallet storage solution, most of the assets are stored in the cold wallet, and a small part of the digital currency is reserved in the hot wallet.
2. Multi-signature security protection technology, and multi-signature verification when withdrawing assets, to ensure the security of user assets and the need for instant withdrawal.
3. Quasi-real-time asset sending and receiving technology, support fast deposit and withdrawal and ensure the timely arrival of assets.
7. What are your further plans for strengthening MoonXBT fund security?
First of all, we will strengthen existing security protection measures and strengthen existing security cooperation. We will actively seek cooperation with authorities and financial regulators around the world to improve the compliance of the platform and the security of platform funds. To achieve our goal of better service users.
Part 3: Live Community Q/A
Q:If my Google Authenticator key is lost, can it be repaired and how can I contact you?
A: It’s very important for you to keep your Google Authenticator key, if you lose that please send us an email request to disable one of these authenticators. You have to choose which one to switch off the ‘Mobile phone verification function’ the ‘Email verification function’ or the ‘Google Authenticator' function. Then you can reset whichever one you want. We will process the request within 1 day and update you on the status via email.
Q: Is it possible for the Turkish state to receive a commission in the coming days?
A: We are trying to work on this, but you know its impact by the local policy, so it depends on that, we will try our best to achieve this.
Q: Users and traders on MoonXBT can trust Moonxbt 100%? If something happened, could Moonxbt ensure their safety for them?
A: Yes, traders on MoonXBT can trust MoonXBT 100%, we will try our best to make sure of this!
Q: How fast will my withdrawal be processed??
A: MoonXBT applies the industry-leading AI verification system.
When your account is in a normal state, withdrawals of less than 2000 USDT will be approved automatically by the AI system. Withdrawal of more than 2000 USDT needs to be processed by administrators who work from 2 am to 12 pm (UTC) on weekdays.
Please pay attention to your withdrawal address and the correct chain type to ensure that you will receive your withdrawal.
Note that there are also instances of network traffic or congestion that may result in the delay of withdrawal.