On July 11, Blockchain private bank BitUN announced their strategic cooperation with the well-known exchange Bitrabbit. The two parties will conduct long-term and in-depth cooperation on various aspects such as funds custody, funds settlement and user system to fully integrate the superior resources of technologies, products and services to provide the most secure and convenient digital assets trading platform for the market.
According to incomplete statistics, from 2014 to now, only around 4 years, many exchanges including Mt.gox, Bitfinex, OKCoin, Bitstamp and other, more than ten exchange wallets have been stolen, leading to the loss of more than 1 million BTC accumulated. Obviously, the security of digital assets is worrying.
At the end of January 2018, the 523 million NEMs of Japanese exchange CoinCheck were stolen. In early March 2018, the well-known digital currency exchange currency was hacked, which again cast a huge shadow on the digital assets security.
BitUN cold wallet applies the military anti-corrosion technique, completely isolating from the Internet. The hardware CPU adopts the Secure Boot and Efuse mechanisms, combined with data encryption chips, and the security level is recognized by the national-level licensed exchanges. In addition, it’s not just a stand-alone cold wallet hardware, but a secure storage solution matched. At present, the solution has been applied in Coinsuper, a well-known exchange in Hong Kong, which has greatly improved the security of exchange assets and the convenience of currency withdrawal and deposit issues.
The cooperation between BitUN and Bitrabbit is to solve the assets security of exchanges and provide the safest and most convenient digital assets trading platform for the market. With the cooperation, BitUN will be responsible for Bitrabbit’s funds custodian partner to manage Bit Rabbit’s digital assets and escort the user’s assets. In the future, Bitrabbit will also join BitUN’s1:N Super Account System and Lightning Network 2.0 ecosystem. Users will be able to conduct digital assets transactions on multiple exchanges such as Bitrabbit with only one account.