Safety & Security is paramount.
Highlights from the recent maintenance activity
On 5th May 2019, Koinex went under maintenance and our engineers worked diligently to get the platform up and running. We made modifications to our infrastructure for better process optimisations and better overall performance of the platform. All services except crypto deposits/ withdrawals went live on 8th May 2019. However, after the recent shocking incident of the world’s largest crypto exchange - Binance getting hacked, we decided to revisit our security infrastructure and make a deeper inspection of our exchange. In spite of the Binance hack setback to the crypto community, we believed that this will be another opportunity for us to add more security layers, implement robust health checks and add advanced reporting protocols.
Being the largest exchange in the country, it is our responsibility to ensure that all funds and data are safe at all times. A holistic security scrutiny is underway at the time of writing this blog and our engineering team is working hard to leave no stone unturned in establishing full confidence in our users by delivering better security on all our products and services. We apologise for the inconvenience caused to our users due to unavailability of some of our services during this week. But our philosophy is to value the hard earned money that our users invest in this new age asset class by utilising the services we provide. While the inconvenience is regretted, we are confident that our users will understand the huge responsibility that we undertake on their behalf and will excuse us for making the platform more secure for them.
Being firm believers in blockchain technology, we stand by each and every exchange, be it Indian or global. We strive to keep BUIDLing towards a future that is decentralised and appreciate all the love and support that we receive on this journey.
Trading is live on Koinex exchange and Loop. We will enable crypto deposits and withdrawals by 11:59 PM IST on 11th May 2019. Please stay tuned to our official channels for further updates. Thank you for your patience!
