The Cloud Security Alliance Announces the Launch of Crypto-Asset Exchange Security Guidelines
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The Cloud Security Alliance Announces the Launch of Crypto-Asset Exchange Security Guidelines

By CIOReview | Wednesday, May 5, 2021

The document outlines effective exchange security to educate users, cybersecurity professionals, and policymakers on secure crypto exchanges.

FREMONT, CA: The Cloud Security Alliance (CSA), the pioneering organization dedicated to defining and raising awareness of best practices to ensure a secure cloud computing environment, announces the launch of the Crypto-Asset Exchange Security Guidelines, a set of guidelines and best practices for crypto-asset exchange security. Drafted by CSAs Blockchain/Distributed Ledger Working Group, the document offers readers with a comprehensive set of guidelines for effective exchange security to aid educate users, policymakers, and cybersecurity experts on the pros and cons of securing cryptocurrency exchanges, comprising both Decentralized Exchanges (DEX) and hosted wallets at cloud-powered exchanges, OTC desks, and cryptocurrency swap services.

Cryptocurrency exchanges are increasingly becoming objects of hackers. Last December, cryptocurrency exchange Exmo identified suspicious withdrawal activity to the tune of more than $10 million. Months before, a secure hardware wallet provider, Ledger, was hacked and lost 272,000 customer records. The document comprises a model that finds the 10 top threats to crypto exchanges, adds a reference architecture and security best practices for the end-user, exchange operators, and auditors. Also covered are security control means across an extensive area of administrative and physical areas.

As the digital assets sector evolves and matures, crypto-asset exchanges increasingly cover areas that were the sole dominion of long-established financial service institutions. The company hopes that this document will offer a roadmap for those tasked with ushering new and existing financial services firms into the future in a controlled and secure method.

The Blockchain Technology Working Group works to produce useful content to educate various industries on blockchain and its proper use and define blockchain security and compliance demands based upon several industries and applications. Individuals interested in becoming comprised in future research and initiatives are invited to visit the Blockchain Working Group join page.