Koinex, India’s leading crypto exchange, has revealed new security features — applied to its users accounts. The update will provide greater protection for its customers’ funds.
The exchange’s developers have introduced a “protection mode” in the accounts — that is automatically activated after a user signs in and hinders any crypto withdrawals in the first ten minutes of a session. Nonetheless, trading is straightaway available after log in.
Also, an additional verification level has been added for crypto withdrawals: users now have to confirm each withdrawal request via email — just by following a verification link.
In addition, users are now able to lock their accounts — and block any transaction — if they suspect of fraudulent activity going on. When an account is locked all non-confirmed withdrawal requests are automatically cancelled.
Why it is important
- Positive sentiment has been growing between Indian crypto exchanges — while waiting for pending government deliberation over crypto regulation. Koinex, in particular, improved its services and is committed to introduce more security updates in the future.
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