30s Summary

At the Blockchain Life event in Dubai, Bitget CEO Vugar Usi Zade spoke about the role of crypto exchanges in ensuring user safety and security. Zade argued against placing the burden on customers and discussed Bitget’s delayed payment feature and anti-phishing codes. Jason Jiang of CertiK emphasized that security is a collective effort, involving the community, projects, exchanges, and regulators. He highlighted the need for proper rules and enforcement.

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In Dubai’s Blockchain Life event, people had different views on who should deal with safety and security in crypto. In a chat with Cointelegraph, Vugar Usi Zade, the big boss of the Bitget crypto exchange, said that it’s not fair to make the users worry about security and safety:

“Pushing safety and security onto the customers isn’t right. The product itself should be easy to use and secure.”

Zade explained that exchanges like Bitget have plenty of ways to help their users stay safe.

Bitget, for example, has a cool feature called delayed payments. This means the exchange can hold off or completely cancel transactions before they even happen. So if a transaction doesn’t look right, Bitget can stop it before it happens.

Zade also mentioned that Bitget has something called anti-phishing codes. Zade tells how it works:

“As a user, you can set up a special code. All the messages you get from Bitget will have this code, so you know it’s really us. Scammers won’t be able to fake it. It’s like a secret handshake between you and the exchange.”

Zade said if they’ve encountered scammers before, they can warn their users before they send money to dodgy addresses. “We’re doing everything we can to keep scams off our platform,” he added.

But in a panel discussion led by Cointelegraph, Jason Jiang from blockchain security firm CertiK reminded folks that security is a team sport. Jiang said:

“It starts with the community, then the projects need to be checked, and it goes to the exchanges, who could stop the money in its tracks when a hack happens.”

Jiang pointed out that regulators also need to make the right rules and enforce them, with the cops tracking down where stolen money ends up.

“It’s a group effort to make this space safer,” Jiang summed up.

Source: Cointelegraph